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News

Crypto Whale’s Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

September 13, 2023 - Around 2 mins mins to read

Key Points:

  • A crypto whale’s risky decision to halt selling and buy 1514 MKR with 1085 ETH, worth $1.73M, after losing $1.36M, raises eyebrows.
  • The whale’s sudden shift involves MAGIC, ARB, and RDNT tokens, sparking speculation about their strategy and market sentiment.
  • Accumulating 2.91 million MAGIC tokens at $0.75 each, the whale watched them triple in value but sold at a recent loss, leaving the crypto community intrigued.
On-chain analyst Yu Jin sounded the alarm bells when a prominent whale abruptly halted their continuous selling of MAGIC, ARB, and RDNT tokens.
Crypto Whale's Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

This unexpected move resulted in a staggering loss of $1.36 million for the investor, making waves in the crypto community.

However, the most striking revelation came when the same executed a daring buy order. Just one hour ago, they used 1085 ETH to acquire a substantial 1514 MKR, valued at approximately $1.73 million. What’s noteworthy is that this transaction occurred at an average price of $1143 per MKR, marking a significant entry point into the Maker (MKR) market.

Crypto Whale's Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

Digging deeper into the whale’s portfolio, it was revealed that they had previously accumulated a whopping 2.91 million MAGIC tokens between December 2022 and February 2023. These tokens were purchased at the modest cost of $0.75 each. While MAGIC experienced a remarkable threefold increase in value since its acquisition, the whale chose not to capitalize on this surge and instead sold the tokens at a recent loss.

The crypto community has been left both intrigued and puzzled by this high-stakes crypto drama. The whale’s decision to switch gears from selling low to buying high, along with their reluctance to cash in on MAGIC’s impressive gains, has sparked debates about risk management and market speculation.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Crypto whale

ETH

ETH Purchase

MKR

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Crypto Whale’s Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

Key Points:

  • A crypto whale’s risky decision to halt selling and buy 1514 MKR with 1085 ETH, worth $1.73M, after losing $1.36M, raises eyebrows.
  • The whale’s sudden shift involves MAGIC, ARB, and RDNT tokens, sparking speculation about their strategy and market sentiment.
  • Accumulating 2.91 million MAGIC tokens at $0.75 each, the whale watched them triple in value but sold at a recent loss, leaving the crypto community intrigued.
On-chain analyst Yu Jin sounded the alarm bells when a prominent whale abruptly halted their continuous selling of MAGIC, ARB, and RDNT tokens.
Crypto Whale's Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

This unexpected move resulted in a staggering loss of $1.36 million for the investor, making waves in the crypto community.

However, the most striking revelation came when the same executed a daring buy order. Just one hour ago, they used 1085 ETH to acquire a substantial 1514 MKR, valued at approximately $1.73 million. What’s noteworthy is that this transaction occurred at an average price of $1143 per MKR, marking a significant entry point into the Maker (MKR) market.

Crypto Whale's Jaw-Dropping 1085 ETH Purchase of 1514 MKR!

Digging deeper into the whale’s portfolio, it was revealed that they had previously accumulated a whopping 2.91 million MAGIC tokens between December 2022 and February 2023. These tokens were purchased at the modest cost of $0.75 each. While MAGIC experienced a remarkable threefold increase in value since its acquisition, the whale chose not to capitalize on this surge and instead sold the tokens at a recent loss.

The crypto community has been left both intrigued and puzzled by this high-stakes crypto drama. The whale’s decision to switch gears from selling low to buying high, along with their reluctance to cash in on MAGIC’s impressive gains, has sparked debates about risk management and market speculation.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.