{"id":56242,"date":"2023-08-09T08:00:19","date_gmt":"2023-08-09T12:00:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=56242"},"modified":"2023-08-09T08:01:35","modified_gmt":"2023-08-09T12:01:35","slug":"pseudo-trader-gcr-holds-450k-reddit-moons-expert-confirms","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pseudo-trader-gcr-holds-450k-reddit-moons-expert-confirms\/","title":{"rendered":"Pseudo Trader GCR Holds 450K Reddit Moons, Expert Confirms"},"content":{"rendered":"\n

A Reddit post claims that GCR, who bet against LUNA<\/a> in 2022, bought 450,000 MOON tokens from MEXC and transferred them to Kraken. An on-chain expert confirmed the speculation to CoinDesk.<\/p>\n\n\n\n

\"Pseudo<\/figure>\n\n\n\n

went viral on Wednesday and claims that the pseudonymous trader GCR, who took a $10 million <\/strong>bearish bet against Terra\u2019s LUNA cryptocurrency in early 2022, is holding large amounts of Reddit\u2019s community token Moons (MOON). <\/p>\n\n\n\n

An on-chain expert confirmed the speculation to CoinD\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>e<\/use><\/svg><\/span><\/a>sk, <\/use><\/svg><\/span><\/a>saying that GCR likely bought 450,000 MOON<\/strong> at an average price of 40 cents-45 cents.<\/strong><\/p>\n\n\n\n

GCR<\/use><\/svg><\/span><\/a> is a well-known crypto trader who has a high Twitter following and often appears on the FTX exchange\u2019s Top 100 Traders leaderboard. <\/p>\n\n\n\n

He is known for his short positions on various tokens, especially LUNA, which he bet would trade lower than $88<\/strong> by March 2023. <\/p>\n\n\n\n

He challenged Terraform Labs CEO Do Kwon<\/a> to increase the bet to $50 million,<\/strong> but Do declined.<\/p>\n\n\n\n

Reddit Post Reveals GCR\u2019s MOON Purchase<\/h3>\n\n\n\n

MOON<\/a> is an ERC-20 token distributed as a reward for comments or posts in the r\/CryptoCurrency subreddit. It can be used to display reputation, unlock exclusive features, and add weight to votes in polls. <\/p>\n\n\n\n

MOON surged over 50%<\/strong> early this week after Kraken listed the token.<\/p>\n\n\n\n

According to the Reddit post by Nutcase420 in r\/CryptoCurrency, <\/em>GCR bought 450,000 MOON tokens<\/strong> from the MEXC exchange and transferred them to Kraken via 24 hours ago. <\/p>\n\n\n\n

The post cites a tweet, which says the Kraken deposit address \u2013 0x5D1177F01f6607628b78fB29C73C8de751B28839<\/strong> \u2013 is associated with GCR because it has previously received large amounts of ether from GCR\u2019s Ethereum name service domain @GiganticRebirth: Ezekielx.eth.<\/em> <\/p>\n\n\n\n

\n

We know 0x5D1177F01f6607628b78fB29C73C8de751B28839 is his Kraken Deposit because he sent millions in ETH to it from his ezekielx.eth address pic.twitter.com\/ipDa0W51ma<\/use><\/svg><\/span><\/a><\/p>— ray tio (@nahnah64) August 8, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

CoinDesk reached out to GCR on Twitter.<\/p>\n\n\n\n

Prithvir Jhaveri, co-founder, and CEO of Loch Research<\/use><\/svg><\/span><\/a>, a blockchain analytics firm, confirmed the speculation to CoinDesk. <\/p>\n\n\n\n

\n

\u201cAfter conducting a bit of on-chain analysis, we were able to confirm that this Kraken address is associated with GCR. He sent millions of ETH to it from an ENS that\u2019s confirmed to be his \u2013 Ezekielx.eth. He bought 450k MOON at an average price of 40 cents-45 cents,\u201d adding that it is unclear when GCR acquired MOON tokens.<\/p>\nPrithvir Jhaveri <\/cite><\/blockquote>\n\n\n\n

MOON\u2019s Price Reaction: Bullish or Bearish?<\/h3>\n\n\n\n

Social media is hailing GCR\u2019s supposed MOON holdings as a bullish catalyst for the token. <\/p>\n\n\n\n

\u201cWell, this was some unexpected awesome news. The positive Moons headlines keep happening, don\u2019t know how much more I can take. What\u2019s next, Moons on Coinbase?\u201d<\/em> One member commented on the GCR post in the r\/CryptoCurrency subreddit.<\/p>\n\n\n\n

However, some users are also wary of GCR\u2019s intentions and possible market manipulation. \u201cHe could be planning to dump them all at once and crash the price,\u201d<\/em> another user warned.<\/p>\n\n\n\n

MOON is currently trading<\/use><\/svg><\/span><\/a> at $0.29,<\/strong> up 3.4%<\/strong> in the last 24 hours, according to CoinGecko. It has a market capitalization of $30.8 million<\/strong> and a circulating supply of 106.8 million tokens.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A Reddit post claims that GCR, who bet against LUNA in 2022, bought 450,000 MOON tokens from MEXC and transferred them to Kraken. An on-chain expert confirmed the speculation to CoinDesk. went viral on Wednesday and claims that the pseudonymous trader GCR, who took a $10 million bearish bet against Terra\u2019s LUNA cryptocurrency in early […]<\/p>\n","protected":false},"author":44,"featured_media":56255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[15625,1671,7787,15624],"class_list":["post-56242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-gcr","tag-kraken","tag-luna-2","tag-reddit-moons"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/reddit-moons.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=56242"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/56255"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=56242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=56242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=56242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}