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Blockchain tracking firm Lookonchain says one crypto trader is looking at multi-million dollar losses after trading the official memecoin of Melania Trump, wife of US President Donald Trump. According to Lookonchain, the trader scooped up nearly 14 million Melania (MELANIA) last month for about $30 million, only to sell off all his holdings this week at a loss of $15.68 million. Lookonchain also noticed another whale lost $3.73 million on his MELANIA trade this week as well. “Whales sold all their MELANIA holdings at a loss recently! DNTpoX…LN2A spent 30 million USDC to buy 13.97 million MELANIA a month ago, and sold for 14.32 million USDC yesterday, losing $15.68 million. Gu2bnm…xmni spent 10 million USDC to buy 6.69 million MELANIA 22 days ago, and sold 6.27 million USDC in the past two days, losing $3.73 million.” Melania is trading for $0.85 at time of writing, down 93.5% from its all-time high of $13.05, which it hit on January 20th...

A crypto trader was able to achieve a $1 million profit within just 30 minutes trading a new meme coin called Nothing (VOID) that was launched by Sotheby’s vice president, Michael Bouhanna. The trader spent 35 Solana (SOL) worth around $8,200 to buy 462 million VOID, accounting for 44% of the crypto’s supply, shortly after the meme coin’s launch. Just 30 minutes after the purchase, the trader sold 439 million for 6,604 SOL worth more than $1 million, according to a Dec. 4 X post by on-chain analytics platform Lookonchain. Despite the big sale, GeckoTerminal data shows that VOID’s price is still up more than 3,400% in the last 24 hours to trade at $0.011 as of 7:07 a.m. EST. Not The Sotheby’s Vice President’s First Meme Coin Launch Bouhanna teased the art-themed meme coin in a Dec. 4 X post. Shortly after the post was published, a wallet address associated with the executive then minted the new token. 🔜 — Michael Bouhanna (@mic...