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Altcoins

South Korean Company Had Bought a Load of This Altcoin: Sold It for 250 Times Profit

By admin
0 75

South Korean Company Had Bought a Load of This Altcoin: Sold It for 250 Times Profit

South Korean gaming giant NCSoft has made a significant profit from the sale of SUI tokens, making more than 250 times its initial investment, according to a recent report by Korean news outlet Bloter.

The company’s semiannual financial report reveals that it sold 16,908,112 SUI tokens in the first half of this year, generating revenue of 2.52 billion won (about $1.9 million) at a price of 1,490 won per token.

NCSoft initially purchased 49,992,806 SUI tokens last year for just 300 million won (about $226,000) at a price of 6 won per token. The company’s total assets include about 50 million tokens, while the majority of the 49,382,303 tokens remain restricted due to disposal restrictions. Only 447,345 altcoins are unrestricted and can be freely traded.

In May, NCSoft lifted disposal restrictions on 16,460,768 SUI tokens and took the opportunity to capitalize on the significant market price increase by selling them all. The remaining 32,921,536 restricted tokens are scheduled to be released in phases in May 2025 and May 2026.

*This is not investment advice.

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