The Altcoin Whale, Which Causes Price Declines Every Time It Sells, Sells Again – What Happened This Time?

Bitget App

Trade smarter

Bitcoinsistemi2024/09/22 15:33

By:Mete Demiralp

A crypto whale sold a significant amount of altcoins today. How did the whale, which previously sold and lowered the price, affect it this time!

A crypto whale who has been described as “diamond-handed” due to not selling for a long time has finally sold his holdings, according to onchain data provided by SpotOnChain.

According to the data, a whale with the starting address 0x682 sent 15,000 Ethereum (ETH) worth $38.4 million to cryptocurrency exchange Kraken. It is not known whether the whale sold specifically, as cryptocurrency exchanges mix user funds, but transfers from cold wallets to exchanges usually result in sales.

Related News This Altcoin Had a Massive Token Unlock - 208 Million Dollars Sent to Binance

Notably, the ETH price had previously seen a sudden drop after the crypto whale’s sell-offs. Examples include:

Following the $34.2 million ETH sale on July 25, there was a 7.6% drop.
On August 20, the whale sold $39.7 million worth of ETH, and the price dropped by 2.5%.

This time, the ETH price has increased by 1% so far.

At the time of writing, this ETH whale has another 26,639 ETH in his wallet, worth $69.7 million, and his total profit so far is $132 million, or 86%.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!