Blockchain News

Crypto Trader Starts Accumulating Little-Known Altcoin After 500% Price Surge

An influential cryptocurrency trader recently stated on social media that they are amassing two little-known cryptocurrencies, adding that at least one will receive more attention soon.

In a post on the microblogging platform X (formerly known as Twitter), pseudonymous cryptocurrency trader TheFlowHorse informed their over 180,000 followers that they are now accumulating the native token of the Solana-based sports betting and online gambling platform Rollbit ($RLB),” as well as the native token of cryptocurrency trading marketplace Open Exchange ($OX).”

TheFlowHorse indicated that they feel these assets are currently reasonably valued following major price corrections and at a time when the American football season is resuming, which he believes could “attention to Rollbit as crypto futures dry up more.”

According to the trader, both assets are “still underpriced, and the expected dip has been generous.”

The trader said that the Bitcoin community tends to chase transient trends, often leading to overlooking inexpensive assets. According to the posts, if most of the community dismisses a token, they view it as a potential opportunity. At the time of writing, OX is selling at $0.03, having lost over half of its value in the previous 30 days, while RLB is down 6.3% in the same period, trading at $0.15. RLB’s price has increased by more than 500% since mid-June.

As previously reported, the cryptocurrency market may be on the verge of an earthquake, with an analytics firm recently predicting a $3 billion sell-off owing to the likely liquidation of FTX’s large bitcoin stack to repay creditors. According to a new court filing, the estate of the once-dominant Bitcoin exchange, which filed for bankruptcy in November after failing due to a bank run, has disclosed assets worth around $7 billion.

The exchange’s assets include $1.16 billion in Solana ($SOL) tokens and $560 million in Bitcoin ($BTC). The documents also reveal billions of dollars in payments made by the corporation to key employees, including founder Sam Bankman-Fried.

According to the documents, the corporation has secured $1.5 billion in cash, on top of the $1.1 billion it had on November 11. It has $3.4 billion in cryptocurrency as of the end of August. This excludes their collection of approximately 1,300 lesser-known tokens, such as MAPS and serum (SRM).


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