2024

Optimism

Spot

Coin

<ul class="news-points">
 <li>Optimism’s price fell by 4.2% following a $5M sale by a whale on Binance.</li>
 <li>Whale faces a $990K loss in one month from a 2,000 ETH investment into OP.</li>
 <li>OP trading volume spikes 671.7% amid price volatility and market uncertainty</li>
</ul>
In the last 24 hours, the Optimism (OP) market has been in a bearish phase, triggered by a “whale” selling 2.095 million OP tokens for 5 million USDT on the Binance trading platform. This large-scale sale resulted in a 4.2% drop in the price of OP.
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 3 hours ago, a whale sold 2.095M <a href="https://twitter.com/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OP</a> for 5M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a> via <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a>, causing the price to drop 4.2%! The whale bought these <a href="https://twitter.com/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OP</a> with 2,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> (then $5.99M) on May 3. So the loss is $990K (-16.5%) after a month. Follow <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@spotonchain</a> for more updates on <a href="https://twitter.com/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OP</a>. <a href="https://t.co/dCOTt6iZpq" target="_blank" rel="noopener noreferrer nofollow">https://t.co/dCOTt6iZpq</a> <a href="https://t.co/NOEWRxmGER" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NOEWRxmGER</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1797438661946114241?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 3, 2024</a>
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The transaction involved selling a substantial amount of OP tokens at a loss for the seller. The whale initially acquired these tokens by trading 2,000 ETH, valued at $5.99 million at the time, on May 3rd. The recent sale, therefore, represents a financial setback of approximately $990,000, or a 16.5% decrease from the initial investment.
During th…
The post <a href="https://coinedition.com/optimism-op-price-dips-4-2-after-whale-dumps-5m-in-tokens/" rel="noopener noreferrer nofollow">Optimism (OP) Price Dips 4.2% After Whale Dumps $5M in Tokens</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Optimism (OP) Price Dips 4.2% After Whale Dumps $5M in Tokens

Coin Edition

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