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.
Author
Analysis
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.
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