Zcash

BLAST

Blur

<p>In a dramatic turn of events in the cryptocurrency world, a whale has recently made a substantial deposit of $14.95 million worth of $BLUR tokens into the Binance <a href="https://blockchainreporter.net/glossary/centralized-exchange-cex/" rel="noopener noreferrer nofollow">centralized exchange</a>. This move, reported by Spotonchain, comes amidst a backdrop of notable financial losses for the investor.</p><h2 id="header-0">Whale Faces $3.54M Loss After $BLUR Price Plummets from $0.383 to $0.148</h2><p>The whale first took a large amount of $BLUR tokens from the OKX last November at the time when the hype around the Blur and Blast airdrops was at its peak. At that time, the token was worth about $0.383, with a total value of approximately $5.72 million. The whale’s approach was to hold these tokens in anticipation of increased market activity and better profits.</p><p>However, the market has since changed significantly. Currently, the price of $BLUR is nearly $0.148. In the event the whale sells his tokens at this low price he would suffer a loss equivalent to $3.54 million. This has brought down his overall investment value by 61.9% than the initial investment value.</p><h2 id="header-1">Crypto Whale Misses $BLUR Sale Opportunity, Faces Greater Losses as Price Drops</h2><p>Making it even more challenging, the whale unstaked his $BLUR tokens two months ago when the coin was valued at $0.209. However, the whale missed the opportunity to sell at that time and continued to hold on to its inventory, which led to higher losses as the price of ZEC plummeted further.</p><p>In conclusion, as highlighted in the case spotted by <a href="https://spotonchain.com/" rel="noopener noreferrer nofollow">Spotonchain</a>, it is evident that the use of cryptocurrencies is risky and is highly volatile, something that any potential investor would want to know. If he had been precise, he could have easily earned a lot of cash from these markets at that time.</p>

Crypto Whale Faces $3.54M Loss After $15M $BLUR Token Deposit on Binance

Table of Contents

BlockchainReporter

Other articles published on Sep 2, 2024

Binance and CZ Face Lawsuit in Seattle Federal Court Over Alleged Money Laundering Practices

JPMorgan’s Caution on Fed Rate Cuts Effects Sparks Market Uncertainty

Bitcoin Price Above $57K, As BTC ETFs Record $277M Weekly Outflows

Cardano switches to decentralized governance with Chang hardfork

What’s Happening with Memecoins? The 10 Biggest Memecoins Have Fallen Big in the Last Year: Why?

Durov’s Arrest Sparks Concerns Over Telegram’s Crypto Holdings

Join our free newsletter for daily crypto updates!