Ethereum

<p>A crypto whale holding <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum ($ETH)</a> has recently experienced significant losses of $12.57M within fifty days, as per Lookonchain (a blockchain analytics company). The respective huge loss points toward the risks and volatility concerning the crypto sector, even for the people holding enormous amounts of digital assets.  The on-chain analytics firm took to its official X account to reveal the respective development.</p><h2 id="header-0">An $ETH Whale Incurs Losses of $12.57M within Fifty Days</h2><p>Lookonchain mentioned that the crypto whale had been gradually amassing $ETH tokens between June 22 and August 4. The whale reportedly redeemed a cumulative amount of up to 14,384 $ETH coins from Binance in the meantime. When the withdrawal took place, the $ETH token saw a value of approximately $3,291. This has placed the cumulative value of the amount at nearly $47.34M.</p><h2 id="header-1">The Event Decreases Ethereum’s Price to $2,417</h2><p>Nonetheless, the market went through a sheer downturn just after. This event paved the way for a resilient plunge in the value of Ethereum. The slump dropped the value of Ethereum to $2,417. That was the time when the whale determined to decrease the losses. Subsequently, the whale deposited all the Ethereum tokens into Binance once again.</p><p>This endeavor at a considerably lower price spot led to the loss of almost $12.57M. This event reportedly plays the role of a cautionary episode for institutional and retail investors alike. <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a> asserted that the new experience of the whale denotes the significance of a well-planned strategy to survive market uncertainties.</p>

Unlucky $ETH Whale Loses $12.57M within 50 Days

Table of Contents

BlockchainReporter

Other articles published on Aug 9, 2024

HashKey Capital To Host Decode: Legacy, the World’s First Crypto-Themed Immersive Theatre Experie...

While Bitcoin Forms Death Cross and Shiba Inu’s Comeback Stalls, CYBRO Soars Non-Stop

Scientists illuminate a path to quantum AGI with new light-based chips

Ireland Seizes $7.1 Million in Crypto

Ripple Wins Another Victory in SEC Case

How to Buy Coin98 Coin?

Join our free newsletter for daily crypto updates!