Jump Trading builds up $660k position in Catslap token ahead of exchange listing announcement

Proprietary trading firm Jump Trading has been accumulating Catslap (SLAP) since November 23rd, with their holdings now valued at roughly $660,000
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Posted by Advertorial December 4, 2024 2 Mins Read
Proprietary trading firm Jump Trading has been accumulating Catslap (SLAP) since November 23rd, with their holdings now valued at roughly $660,000

Proprietary trading firm Jump Trading has been accumulating Catslap (SLAP) since November 23rd, with their holdings now valued at roughly $660,000.

This move comes as the cat-themed meme coin’s team prepares to potentially announce the first CEX listing later this week.

Jump Trading continues accumulating SLAP as token’s trading volumes grow

Known for its algorithmic trading strategies, Jump Trading has made ten separate purchases of SLAP, totaling 123.29 million tokens.

Their most recent purchase was just yesterday.

However, what’s particularly noteworthy is Jump’s accumulation pattern.

Instead of a single large purchase, the firm has gradually built its roughly $472,000 position over the past 10 days.

Their strategy appears to be paying off - these SLAP holdings are now sitting at an unrealized profit of over $660,000, and DEXTools data shows they haven’t sold a single token.

This represents a gain of 39.8% - outperforming both Bitcoin and Ethereum over the same time frame.

Jump's interest coincides with the growing momentum surrounding Catslap.

Spot trading volume reached $2.2 million in the past day, a 142% increase from the previous day.

The number of SLAP holders has also topped 10,600.

All of this has been achieved despite the SLAP token only being available through the Uniswap DEX.

Token burns and buybacks shape Catslap’s tokenomics ahead of major announcement

Speculation is building around Catslap’s upcoming announcement, with a countdown timer on the website marking just two days until the reveal.

While details remain under wraps, the Telegram community believes it will be about SLAP’s first CEX listing – a step that would significantly expand the project’s reach.

Behind the scenes, Catslap’s tokenomics structure is changing through a burning strategy.

The project has already burned 38.6 million SLAP tokens, equivalent to $219,000 in value.

This burn rate is set to accelerate when the “Slapometer” reaches 100 million slaps.

That milestone will trigger a planned burn of 100 million SLAP tokens.

Alongside these burns is an active buyback program that has accumulated 51.2 million SLAP tokens worth approximately $291,000.

These tokens are earmarked for future burns and community rewards.

This approach aims to balance token scarcity and accessibility.

Game-based ecosystem drives SLAP token growth & community engagement

SLAP's price action reflects the growing excitement.

SLAP is currently trading at $0.0052, a 75% increase in the past 24 hours.

The token now sits 30% below its all-time high and has secured a spot on DEXTools’ hot pairs list.

Catslap has attracted interest due to its simple concept: a browser-based game in which users can virtually “slap” meme characters.

A real-time global leaderboard tracks every slap.

But there’s more to Catslap’s ecosystem, since it also contains a staking protocol offering estimated 40% annual yields.

This protocol has already attracted over 357 million locked SLAP tokens.

Catslap’s ecosystem has gained traction among crypto influencers, with channels like Cilinix Crypto and Crypto Wire publishing detailed analyses.

With a SolidProof security audit also completed, Catslap’s team appears focused on balancing entertainment and security.

Those wishing to buy SLAP tokens can use the Best Wallet app.

There’s also the option of buying through the Catslap token website using ETH, USDT, or a bank card.

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