According to BlockBeats, on September 9, on-chain data revealed that Huang Licheng currently holds 11.1 million FRIEND tokens. Previously, Lookonchain monitored that from May 3 to June 8, Huang spent 4,975 ETH (approximately $15.6 million) to purchase 8.6 million FRIEND tokens at an average price of $1.81 each.
Since then, Huang has continued to make small purchases of FRIEND tokens and has provided liquidity for its trading pair, accumulating a total of 11 million FRIEND tokens. Based on the June 8 holdings and the current FRIEND token price of $0.06668, the FRIEND tokens bought for $15.6 million are now worth only $570,000, resulting in an unrealized loss of at least $15 million.
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