A wallet tracked by Lookonchain generated $10.1 billion in trading volume on the first day of perpetuals platform Papertrade, then posted a $979,000 loss, according to BlockBeats. The address received 252 million PAPER after that activity and later stopped trading. Instead, it staked the full 252 million PAPER allocation and collected USDC rewards valued at $1.73 million. Based on the figures cited by Lookonchain, the wallet is now up by $762,000 overall. The activity was highlighted on Oct. 16 and centers on a single trader’s shift from aggressive trading on launch day to reward harvesting through staking.
According to Lookonchain, a wallet generated $10.1 billion in trading volume on the first day of perpetual trading platform Papertrade.
The address then recorded a loss of $979,000 and received 252 million PAPER. After that, it stopped trading and staked the 252 million PAPER, earning USDC rewards worth $1.73 million. The wallet is now up $762,000 overall.
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