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Home»ALTCOIN NEWS»Whale Loses Over $8,430,000 After Ethereum and 2 Additional Altcoins Capitulate: On-Chain Data
ALTCOIN NEWS

Whale Loses Over $8,430,000 After Ethereum and 2 Additional Altcoins Capitulate: On-Chain Data

By Crypto FlexsMay 13, 20242 Mins Read
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Whale Loses Over ,430,000 After Ethereum and 2 Additional Altcoins Capitulate: On-Chain Data
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On-chain data shows that an unknown whale sold altcoin positions at huge losses after the price fell.

As first reported by blockchain tracking service Lookonchain, a whale has abandoned positions in Ethereum (ETH) and layer 2 altcoins Optimism (OP) and Arbitrum (ARB).

Look on chain Called Whales with wallet addresses starting with 0x12199 and 0xac218 lost $8.43 million.

“I’m so sad!

The whale sold ETH, OP, and ARB together for a loss of ~$8.43 million.

Sold 6,714 ETH ($19.5 million) for $2,903 and lost $6.45 million!
Sold 428,047 OP ($1.06 million) for $2.48 and lost $902,000!
“Sold 901,685 ARBs ($882 million) at $0.98 and lost $1.08 million!”

At the time of this writing, ETH is trading at $2,888, and OP and ARB are worth $2.45 and $0.962, respectively.

Look on chain too spotted “Smart money” whales that accumulate multiple altcoins.

According to the company, one wallet starting with 0xd876 has accumulated a seven-figure value of layer-1 blockchain Fantom (FTM), decentralized finance (DeFi) project Maker (MKR), and memecoin Pepe (PEPE).

“What altcoins is smart money buying?

Smart Money has $23.3 million in assets and previously earned $1.67 million from FTM trading.

He recently purchased MKR, FTM and PEPE.

FTM

He purchased 3.18 million FTM on May 7 using 726 ETH ($2.26 million).

He previously earned ~$1.67 million in FTM by purchasing 3.39 million FTM ($1.13 million) for $0.33 on January 24th and selling 3.39 million FTM ($2.8 million) for $0.83 on March 19th.

MSEK
He used $1.25 million to purchase 464 MKR for $2,697 on May 12, and on April 30, he used 379 ETH ($1.22 million) to purchase 428 MKR for $2,846.

pepe
He spent $558,000 on May 8 to purchase 70 billion PEPE.”

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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