After a full year of adding to his position, he brought his cost basis down to $0.55, but $ONDO still hasn’t gotten him back to breakeven. This address, tracked by Arkham, is sitting on nearly $400,000 in unrealized losses on its spot holdings.
Its trading history is even more interesting: it started buying $ONDO about a year ago, adding in installments all the way down and bringing its average cost to around $0.55. It also held $LINK during that period. A month ago, it sold off all of $QNT , cutting its losses at around $20,000. It has invested about $1.5 million in total, and its portfolio is now worth about $1.1 million.
This strategy is all too common in crypto circles: buy more as the price falls, trading time for a lower cost basis—with the assumption that the asset will recover. When an RWA narrative token like $ONDO trades sideways for a long time, averaging down only spreads out the losses; it won’t turn them into gains on its own. The position in $LINK is also weighing on the portfolio.
What’s worth noting is the decision to cut $QNT : he was willing to stop out of a weak position, yet kept stubbornly holding $ONDO . The same risk-management rules were applied very differently to the two assets. Even whales can get trapped by sunk costs—they’re no different from retail traders in that respect.
#ONDO #LINK #QNT #WhaleActivity
Its trading history is even more interesting: it started buying $ONDO about a year ago, adding in installments all the way down and bringing its average cost to around $0.55. It also held $LINK during that period. A month ago, it sold off all of $QNT , cutting its losses at around $20,000. It has invested about $1.5 million in total, and its portfolio is now worth about $1.1 million.
This strategy is all too common in crypto circles: buy more as the price falls, trading time for a lower cost basis—with the assumption that the asset will recover. When an RWA narrative token like $ONDO trades sideways for a long time, averaging down only spreads out the losses; it won’t turn them into gains on its own. The position in $LINK is also weighing on the portfolio.
What’s worth noting is the decision to cut $QNT : he was willing to stop out of a weak position, yet kept stubbornly holding $ONDO . The same risk-management rules were applied very differently to the two assets. Even whales can get trapped by sunk costs—they’re no different from retail traders in that respect.
#ONDO #LINK #QNT #WhaleActivity