Whale Sells All Altcoins at Loss Following Recent Market Dip
In the wake of a significant market downturn, a prominent whale has opted to sell off its remaining holdings of LDO and AAVE, transferring them to Binance. This decision marks a complete withdrawal by the whale, who had previously incurred losses on its altcoin investments.
According to a report by Lookonchain, the whale deposited 3.33 million LDO valued at $5.67 million and 31,191 AAVE valued at $2.56 million into Binance. This move comes after the whale had recently liquidated 3.13 million LDO ($5.77 million), 49,771 AAVE ($4.54 million), 269,177 UNI ($2.41 million), and 250,969 FXS ($708 thousand) at a loss.
The series of sell-offs by this influential entity has contributed to declines in the prices of LDO, AAVE, UNI, and FXS. It is noted that previously, the whale had aggressively purchased over $73 million worth of ETH and Ethereum-based altcoins subsequent to the SEC’s approval of 19b-4 filings related to Ethereum ETFs in late May.
In the past 24 hours alone, the price of LDO has dropped by 2.4%, settling at $1.68, while AAVE has seen a 6% decline to $81.5.
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