Crypto World News, March 5 — According to Arkham monitoring, the previously unrealized loss of $20 million by crypto KOL “Bonk Guy” has been announced to transfer all his USELASS holdings to a centralized exchange. Meanwhile, he took a 2x leveraged long position on USELASS worth $230,600 on the Lighter platform, with an initial market value of about $43.4 million. Currently, this trade has a floating profit of $16,000. Arkham joked, “Should we now call him ‘USELESS Guy’?”
Additionally, based on Bonk Guy’s post, he explained that his reasons for transferring include: publicly holding the position is unrelated to the project’s success or failure, and the market has proven that his holdings have no real impact on the price; publicly holding assets is more harmful than beneficial to himself and the project, and avoids attracting attention when tokens rebound to high levels in the future; storing eight-figure assets in a Telegram bot wallet poses security risks, as hacking could lead to bigger problems. He emphasized that transferring tokens is unrelated to the price and that he will continue to hold USELESS tokens until reaching or exceeding historical highs.
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