A wallet that previously ranked as the largest holder of the meme token Niu Lai has stopped selling for now, according to monitoring data from TradingBeats, formerly known as Hyperinsight. As of Aug. 18, the address had made no further moves over the past 12 minutes. Its cumulative sales were pegged at about $360,000 worth of tokens, while it still held roughly $474,000 in Niu Lai.
Following the sales, the wallet’s holding ratio dropped to 1.25%, causing it to lose the top spot and fall to fifth place among holders. TradingBeats also showed that the four largest addresses by current holdings have not sold any tokens since Niu Lai was listed on Binance Alpha.
Separately, GMGN market data put Niu Lai’s market capitalization at $38 million, with 24-hour trading volume at $32 million. BlockBeats noted that meme coins often lack practical use cases and can see sharp price swings, urging users to be cautious when investing.
BlockBeats reported on Aug. 18 that a wallet previously ranked as the largest holder of the meme token Niu Lai has paused its selling, according to monitoring data from TradingBeats, formerly Hyperinsight. The address had made no additional moves in the past 12 minutes.
Total sales from the wallet were locked at about $360,000 worth of tokens. It still holds roughly $474,000 worth of Niu Lai. After the sell-off, its share of total holdings fell to 1.25%, costing it the No. 1 position and pushing it down to fifth place.
TradingBeats data also showed that the four addresses currently ranked ahead of it by holdings have not sold since Niu Lai was listed on Binance Alpha.
Separately, GMGN market data showed Niu Lai holding a market capitalization of $38 million, while 24-hour trading volume stood at $32 million.
BlockBeats cautioned that meme coins often do not have practical use cases and can be highly volatile, and said users should remain careful when investing.
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