In a matter of hours, several wallets have made significant gains from the token $3AC, with profits exceeding $60,000 per wallet.

Many of these wallets were recently created and have already offloaded most of their holdings, capitalizing on the rapid price surge.

A closer look at the token’s distribution reveals a concerning trend. According to blockchain analytics firm @bubblemaps, 80% of the $3AC supply is held within a single cluster of wallets, raising red flags about the token’s centralization. This kind of concentration is often viewed as risky, making it essential for investors to exercise caution and manage their exposure wisely.

Interestingly, Su Zhu, the co-founder of the now-defunct hedge fund Three Arrows Capital (3AC), is reportedly linked to a new venture dubbed “Three Arrowz Capitel.” More information about the project is expected to surface during an upcoming Twitter Space, which has piqued the curiosity of the crypto community.

Notable investor Machi Big Brother (@machibigbrother) made headlines when he purchased 3.28 million $3AC tokens, spending 125 ETH (roughly $336,800) at an average price of $0.1028 per token. In just 7 hours, Machi’s $3AC holdings generated an impressive 561 ETH ($1.5 million) in profit.

Another savvy trader spent 238 ETH ($641,500) to buy 28.03 million $3AC when trading first opened. This trader later sold 24.95 million tokens for 799 ETH ($2.15 million), netting a substantial profit of 561 ETH ($1.5 million) while still holding 3.08 million $3AC, worth approximately $369,000.

As the token continues to attract smart money, investors should stay alert and monitor market conditions closely.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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