- A prominent cryptocurrency whale, known for rapid trading, sold all altcoins due to substantial losses.
- The whale’s trading cycles with Chainlink (LINK) resulted in a total loss of $49,261 (-2.52%).
- Despite market fluctuations, the decision to sell the altcoins was prompted by a sudden price drop in LINK.
After enduring a string of continuous losses, a cryptocurrency whale has made a decisive move by liquidating all of their altcoin holdings.
This influential player in the Chainlink (LINK) ecosystem, known for their swift trading activities, recently offloaded their entire stash of altcoins under the short address 0xb0a. The sale involved a significant quantity of $143,206 worth of LINK tokens, fetching a total of $964,769 at an average selling price of $6.74 per token.
The whale in question, bearing the moniker 0xb0a, had been engaged in a series of rapid trading cycles involving LINK, and regrettably, this venture resulted in a cumulative loss of $49,261, equivalent to a 2.52% loss.
In the first cycle, executed on August 9, the whale initiated a trade involving 200,000 USDT and 16,150 UNI tokens, totaling $397,000, to acquire 52,319 LINK tokens at an average price of $7.60. However, by August 12, all LINK tokens were divested at an average price of $7.37, generating a loss of $11,822, or 2.97%.
The second cycle occurred on August 14 and 15, where the whale converted 576,870 USDT into 75,347 LINK tokens at an average price of $7.66. Subsequently, the whale swiftly sold off all their holdings for $553,187 on August 15, just before LINK’s price experienced a sharp decline, incurring a loss of $23,683, or 4.11%.
In the final cycle, spanning from September 18 to September 20, the whale acquired 143,203 LINK tokens for a total of $978,525, with an average acquisition price of $6.83 per token. Unfortunately, during the sale of these tokens at an average price of $6.74, the LINK market took an unexpected downturn. As of the time of writing this article, the LINK token is trading at $6.94, leaving the whale with a final loss of $13,000 on their last transaction.
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