Whale Loses Big on Ethereum and Altcoins
An unknown whale has divested their altcoin holdings at a significant loss following a market downturn, as per on-chain analysis.
Capitulation of the Whale
The whale in question, identified by wallet addresses starting with 0x12199 and 0xac218, liquidated their positions in Ethereum (ETH) and two layer-2 altcoins, Optimism (OP) and Arbitrum (ARB).
- Losses amounted to $8.43 million
- Sold 6,714 ETH ($19.5 million) at $2,903, incurring a $6.45 million loss
- Sold 428,047 OP ($1.06 million) at $2.48, losing $902,000
- Sold 901,685 ARB ($882 million) at $0.98, resulting in a $1.08 million loss
Current Market Prices
As of now, ETH is priced at $2,888, with OP and ARB valued at $2.45 and $0.962, respectively.
Smart Money in Action
Lookonchain also observed a “smart money” whale accumulating various altcoins and tokens:
- Wallet 0xd876 amassed a considerable sum in Fantom (FTM), Maker (MKR), and Pepe (PEPE)
- Holdings amount to $23.3 million
- Previously earned $1.67 million from FTM trading
New Acquisitions
The whale recently made significant purchases:
- FTM: Spent 726 ETH ($2.26 million) to acquire 3.18 million FTM on May 7th
- MKR: Invested $1.25 million to buy 464 MKR at $2,697 on May 12th and 379 ETH ($1.22 million) for 428 MKR at $2,846 on Apr 30th
- PEPE: Acquired 70 billion PEPE for $558,000 on May 8th
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The post Whale Loses Over $8,430,000 After Capitulating on Ethereum and Two Additional Altcoins: On-Chain Data appeared first on The Daily Hodl.
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