Altcoins
Whale Loses Over $8,430,000 After Capitulating on Ethereum and Two Other Altcoins: On-Chain Data
According to on-chain data, an unknown whale sold off its altcoin positions and suffered a huge loss after prices plummeted.
First reported by blockchain tracking service Lookonchain, a whale has capitulated its positions in Ethereum (ET) and tier 2 altcoin Optimism (OPERATION) and Arbitrum (ARB).
Guardaonchain He says the whale, with wallet addresses starting with 0x12199 and 0xac218, suffered losses of $8.43 million.
“So sad!
This whale sold all ETH, OP, and ARB at a loss of ~$8.43 million.
I sold 6,714 ETH ($19.5 million) at $2,903 and lost $6.45 million!
I sold 428,047 OP ($1.06 million) at $2.48 and lost $902,000!
I sold 901,685 ARB ($882 million) at $0.98 and lost $1.08 million!”
At the time of writing, ETH is trading for $2,888, while OP and ARB are worth $2.45 and $0.962, respectively.
Also Lookonchain stained a “smart money” whale that accumulates several altcoins.
According to the company, a wallet starting with 0xd876 has accumulated a seven-digit value of the level-one Fantom blockchain (FTM), creator of decentralized finance (DeFi) projects (MKR) and the memecoin Pepe (PEPPER).
“What altcoins is smart money buying?
The smart money holds $23.3 million in assets and previously made $1.67 million trading FTM.
It recently bought MKR, FTM and PEPE.
FTM
On May 7, he spent 726 ETH ($2.26 million) to purchase 3.18 million FTM.
He bought 3.39 million FTM ($1.13 million) at $0.33 on January 24 and sold 3.39 million FTM ($2.8 million) at $0.83 on March 19, first earning around $1.67 million on FTM.
MKR
He spent $1.25 million to purchase 464 MKRs for $2,697 [on May 12th] and also spent 379 ETH ($1.22 million) to buy 428 MKR at $2,846 on April 30.
PEPPER
He spent $558,000 to buy 70 billion PEPE on May 8.”
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