Crypto Alert: Massive SNX Whale Dump Worth $4 Million Shakes Market

Key Points:

• A whale dumped 2,015,264 $SNX tokens ($4M) on Binance, incurring a loss of ~$785K.
• The whale initially bought $SNX tokens at $2.44 on May 18 using $4.9M USDT.
• Subsequently, the whale acquired 569,907 $LINK tokens ($4M) and experienced a loss of ~$227K.

Massive SNX whale dump shocks crypto markets. Analysis of the move, losses, and subsequent LINK investment. Stay tuned for updates.

In a sudden and significant move reported by Lookonchain, a crypto whale recently dumped a staggering 2,015,264 $SNX tokens on the Binance exchange, causing a stir in the crypto market. This massive sell-off amounted to a loss of approximately $785,000 for the whale.

The story began on May 18, when this particular whale invested a hefty $4.9 million in USDT to purchase the aforementioned 2,015,264 $SNX tokens at a price of $2.44 per token. However, the whale’s strategy took an unexpected turn as they decided to offload their SNX holdings, only to acquire 569,907 $LINK tokens valued at $4 million.

Interestingly, before this transaction, the whale had previously invested $1.41 million to purchase 174,138 $LINK tokens. Unfortunately, they eventually had to sell these tokens at a reduced price, resulting in a loss of approximately $227,000.

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.