Key Takeaways
- Lookonchain says psuedonymous trader’s ANSEM-driven portfolio rose by $193 million over the past week.
- The Black Bull (ANSEM) briefly topped a $190 million market cap in early July, a record for the token.
- Another trader (@49foKJ) sold 8 million airdropped ANSEM for $207,000; the stash would now fetch $2.6 million.
A Namesake Token Mints a Nine-Figure Week
Lookonchain, a firm that traces wallet activity across public blockchains, published the eye-catching figure on Saturday, adding:
“In just one week, trader Ansem’s (@blknoiz06) portfolio was up over $193M, thanks to ANSEM.”
Ansem, one of crypto’s most-followed traders, rose to prominence during the 2024 Solana meme coin cycle and posts to more than a million followers on X routinely. The token bearing his name is officially called The Black Bull (ANSEM) and was launched in mid-June on Pump.fun, a Solana-based meme coin launchpad. Its debut coincided with Solana’s daily token launches hitting an 80-day high.
The launch itself was unusual as an anonymous deployer spent about $6,300 to create the token and acquire 792.45 million ANSEM, then sent 650 million of those tokens directly to Ansem’s wallet. According to data, the deployer sold the remainder for a profit of only about $5,500, meaning they captured almost none of the upside while the trader it was named after received a nine-figure windfall. Ansem’s holdings had already topped $71 million earlier in the rally before the latest surge.
The token briefly surpassed a $190 million market capitalization in early July, a record, and was recently trading around $0.357 with a market cap near $185.6 million. ANSEM currently sits at the top of Coingecko’s most-searched coins, ahead of Hyperliquid’s HYPE and bitcoin itself.
The $2.38 Million That Got Away
Not every wallet in the ANSEM story is celebrating with Lookonchain highlighting a trader identified by the wallet prefix 49foKJ who was airdropped 8 million ANSEM and sold the entire allocation for $207,000 when the token’s market cap stood at $26 million.
Those same 8 million tokens are now worth about $2.6 million, the firm noted, meaning the early exit cost the trader more than $2.38 million in forgone profit.
Trader Ansem has leaned into the community dimension of the frenzy, as late last month, he criticized Pump.fun’s reward structure and pledged to redistribute the creator fees flowing to his wallet back to tokenholders. The move has been referred to as by supporters as a “stimmy for the trenches,” slang for returning money to rank-and-file traders.
Pump.fun itself has moved to rebalance creator and trader incentives this year after concluding its fee structure was not supporting market health. In any case, the cautionary statistics remain daunting, with a Solidus Labs report from last year finding that 98.6% of tokens launched on Pump.fun exhibited signs of fraudulent activity.
ANSEM, for its part, has outperformed most of that cohort so far, but meme coin prices are highly volatile, and a token whose value rests on one trader’s reputation invariably tends to carry concentration risk by design.
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