An anonymous cryptocurrency trader made $2 million in unrealized gains within three days by trading the meme coin HIPPO on the Sui network. Speculation about insider trading has arisen, although nothing has been confirmed. Sui, the native token of the Sui network, has a large percentage of its supply locked in vesting contracts, creating concerns about potential selling pressure. The recent unlocking of $100 million worth of SUI raised criticisms about the token's distribution model. Influencers and crypto media have been promoting Sui, possibly due to the upcoming unlock. The trader's success highlights the volatile nature of cryptocurrencies, particularly meme coins, which can be influenced by social hype and buzz. These types of assets also carry liquidity-related risks and can lead to liquidity death spirals.



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