Ethereum

2024

April

Fetch.ai

<div class="finbold">
 <p class="paragraph">Two <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency traders capitulated and lost $2.61 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in a one<a rel="noopener noreferrer nofollow" title="-month" href="https://thebittimes.com/tag/month.html">-month</a> trade with Fetch.ai (FET). Whales reportedly dumped $10 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> worth of FET with <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>aire realized <a rel="noopener noreferrer nofollow" title="losses" href="https://thebittimes.com/tag/losses.html">losses</a>, according to <em>SpotOnChain’s</em> recent reports.</p>
 <p class="paragraph">First, ‘Whale 0xdf8′ sold all its 2.739 million FET for 2,095 of Ethereum (ETH), worth $6.66 million. The sales averaged $2.431 per token and marked “the end of the whale’s fifth FET trading cycle,” as reported.</p>
 <p class="paragraph">The trader bought these 2.739 million FET on March 26 for a dollar-cost average of $3.031. Therefore, ‘Whale 0xdf8’ realized $1.64 million in losses with this one-month trade, diminishing its ETH stack by 20%.</p>
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 <p class="paragraph">Meanwhile, in the same period, ‘Whale 0x9eb’ capitulated for around $977,000 in its first FET trading cycle, wrote <em>SpotOnChain</em>. This second crypto trader bought 1.504 million FET for an estimated cost of $4.55 million. Later, selling all of it for $3.58 million worth of three Ethereum tokens from April 1 to April 21.</p>
 <h2 class="wp-block-heading" id="h-fetch-ai-fet-price-analysis">Fetch.ai (FET) price analysis</h2>
 <p class="paragraph">The artificial intelligence (AI) narrative dominated the cryptocurrency market in 2024. Notably, projects like Fetch.ai are up nearly 260% year-to-date and have rewarded early investors throughout 2024.</p>
 <p class="paragraph">However, things could now change for FET and AI <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies amid the notable sell-off by <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>aire whales. Should other traders follow the example, Fetch.ai could lose momentum and give way to further narratives.</p>
 <p class="paragraph">As of this writing, FET is trading at $2.42, up close to 10% in the last 24 hours. Interestingly, the token’s daily performance suggests ‘Whales 0xdf8 and 0x9eb’ waited for a green candle to dump their holdings.&nbsp;</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="947" height="773" src="https://cdn.thebittimes.com/images/2024/04/21/fee817624da0c422f17f2eaaeb1f0505.webp" alt class="wp-image-170589" srcset="https://cdn.thebittimes.com/images/2024/04/21/fee817624da0c422f17f2eaaeb1f0505.webp 947w, https://cdn.thebittimes.com/images/2024/04/21/fee817624da0c422f17f2eaaeb1f0505.webp 300w, https://cdn.thebittimes.com/images/2024/04/21/fee817624da0c422f17f2eaaeb1f0505.webp 768w" sizes="(max-width: 947px) 100vw, 947px">
  <figcaption class="wp-element-caption">
   Fetch.ai (FET) year-to-date price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Narratives come and go in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency space while traders try to navigate them in the best possible way. Sometimes, capitulating seems like the proper choice when facing other opportunities or the fear of larger <a rel="noopener noreferrer nofollow" title="losses" href="https://thebittimes.com/tag/losses.html">losses</a> in the future.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/traders-capitulate-for-one-month-millionaire-losses-with-ai-crypto-tbt85923.html">https://thebittimes.com/traders-capitulate-for-one-month-millionaire-losses-with-ai-crypto-tbt85923.html</a></p>

Traders capitulate for one-month millionaire losses with AI crypto

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