The total unrealized profit of the ten largest holders of the Milady (LADYS) mem-token, created on the basis of the NFT collection of the same name, reached $20 million.
1/ Here are the top 10 holders of $LADYS(excluding exchanges and contract addresses).
They hold 180T $LADYS20.3% of the total supply.
The top 3 holders were added to the blacklist.
And DWF Labs holds 30.7T $LADYS3.5% of the total supply. pic.twitter.com/K95k0A6npW
— lookonchain (@lookonchain) May 15, 2023
According to Lookonchain experts, 180 trillion LADYS are concentrated on whale addresses, which is 20.3% of the total coin supply. 30.7 trillion tokens are held by two wallets owned by market maker DWF Labs.
The company later sent 2.2 trillion Milady to exchanges, which caused a coin dump.
4/ 2 addresses of DWF Labs hold a total of 30.7T $LADYS($4.5M)
And DWF Labs “0xd4b6” transferred 2.2T $LADYS to exchanges at the highest price point. @ag_dwf states this is for market making. pic.twitter.com/ciyHPgTjxu
— lookonchain (@lookonchain) May 15, 2023
According to on-chain data, the top three holders have already been blacklisted. One of them was also blocked by the issuer of the meme-coin Pepe (PEPE). Experts suggested that the banned addresses are suspected of insider trading.
“Liquidity [LADYS] worth about $3 million distributed across Uniswap v2 and v3. If the whales want to close their position, they must either take into account the huge slippage or they will need to gradually sell their holdings.” declared The Block experts.
The Milady token was launched on May 7 on the Ethereum network. Project website states that the digital asset “has no intrinsic value” and is created “solely for entertainment purposes”.
Despite the warning, traders were still interested in the meme token. According to the data CoinGeckothe daily trading volume of the coin is $88 million with a total capitalization of $87 million.
At the time of writing, Milady is trading at $0.000000097792, down 29.4% overnight.
Earlier, billionaire Elon Musk provoked the growth of the non-fungible Milady token by posting a picture with a meme on Twitter. After the publication, the trading volume per day increased by 1962%, and the number of sales – by 1297%.
Recall, according to analyst Scimitar Capital, PEPE token holders realized $160 million in profit. The main amount comes from users who purchased the asset in the first week after launch.
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