🎁🎁Ethereum Whale Couldn't Wait, Lost $12.5 Million in 50 Days 🎁🎁
A altcoin whale decided to sell at a loss a few hours before cryptocurrency prices started to rise.
According to data from blockchain analysis platform Lookonchain, this whale lost $12.57 million in the last fifty days. Before the crypto market started to decline, the whale purchased 14,384 Ethereum (ETH) from the Binance exchange between June 22 and August 4. While the unit cost of ETH was determined as $3,291, a total investment of approximately $47.34 million was made.
However, there was a collapse in the cryptocurrency market after these purchases. The price of Ethereum fell below $ 3,000 after August 4 and fell to $ 2,226 according to CoinGecko data.
Less Loss Could Have Been Incurred
According to Lookonchain data, the whale sent all of its Ethereum to Binance and sold it after the market decline. The whale, which is estimated to have sold at an average unit price of $ 2,417, lost approximately $ 12.57 million as a result of this transaction.
However, the price of Ethereum has started to rise again along with Bitcoin thanks to the demands of institutional investors and positive developments in the stock markets. In recent hours, ETH managed to exceed $ 2,700.
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