Trader Who Predicted Luna’s Downfall Now Holds 450K MOON Tokens

We know 0x5D1177F01f6607628b78fB29C73C8de751B28839 is his Kraken Deposit because he sent millions in ETH to it from his ezekielx.eth address pic.twitter.com/ipDa0W51ma

— ray tio (@nahnah64) August 8, 2023

CoinDesk reached out to GCR on Twitter.

Meanwhile, Prithvir Jhaveri, co-founder and CEO of Loch Research, confirmed the speculation.

“After 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’s confirmed to be his – Ezekielx.eth. He bought 450k MOON at an average price of 40 cents-45 cents,” Jhaveri told CoinDesk, adding that it is unclear when GCR acquired MOON tokens.

Social media is hailing GCR’s supposed MOON holdings as a bullish catalyst for the token. “Well this was some unexpected awesome news. The positive Moons headlines keep happening, don’t know how much more I can take. What’s next, Moons on Coinbase?,” one member commented on the GCR post in the r/CryptoCurrency subreddit.

MOON surged over 50% early this week after Kraken listed the token.

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Early last year, GCR shorted Terra’s LUNA token for $10 million, betting with Terraform Labs CEO Do Kwon that the cryptocurrency would trade lower than $88 by March 2023. LUNA crashed in May 2022 along with Terra’s algorithmic stablecoin UST, destroying billions in investor wealth.