FalconX

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/dragonfly-capital-sells-aevo-holdings-at-a-loss" data-wpel-link="internal">Dragonfly Capital Sells AEVO Holdings at a Loss</a><br></p>
<p style="text-align: justify">US-based cryptocurrency investment firm Dragonfly Capital has divested its entire stake in AEVO tokens, transferring 62.62 million AEVO tokens to the FalconX exchange. This strategic decision amounted to a financial setback, as the sale generated around $25.04 million, resulting in an approximate loss of $36.84 million for the firm. Dragonfly Capital had held these AEVO tokens since May, indicating a significant reevaluation of their investment strategy.</p> 
<h2 id="what-led-to-the-financial-loss">What Led to the Financial Loss?</h2> 
<p style="text-align: justify">Back in May, specifically between the 13th and 15th, Dragonfly Capital executed a substantial withdrawal of 63.23 million RBN tokens from the Coinbase exchange, acquiring them at an average price of $0.9882. These tokens were then swapped for AEVO on a one-to-one basis. However, the market has since seen a downturn, with AEVO’s current valuation at approximately $0.39, signifying a sharp 59% decline in value and underscoring the firm’s monetary loss.</p> 
<h2 id="why-did-dragonfly-transfer-to-falconx">Why Did Dragonfly Transfer to FalconX?</h2> 
<p style="text-align: justify">In a decisive move within the last eight hours, Dragonfly Capital transferred its entire AEVO holdings to the FalconX exchange, marking the complete withdrawal of its AEVO investment. This action exemplifies how major investment entities adapt their tactics in response to evolving market dynamics. The comprehensive sale raises questions about the firm’s strategic reassessment and its broader implications for the cryptocurrency market.</p> 
<p style="text-align: justify">Key takeaways from Dragonfly Capital’s maneuver include:</p> 
<ul style="text-align: justify"> 
 <li>Massive sale of 62.62 million AEVO tokens.</li> 
 <li>Realized approximate loss of $36.84 million.</li> 
 <li>AEVO <a href="https://en.bitcoinhaber.net/solanas-dogwifhat-token-surges-in-crypto-trading" data-wpel-link="internal">token</a> price down to $0.39, a 59% drop.</li> 
 <li>Market perception potentially influenced by large-scale fund actions.</li> 
</ul> 
<p style="text-align: justify">Dragonfly Capital’s recent actions may have a ripple effect on AEVO investors and the wider cryptocurrency sector. The substantial offloading by a significant fund can negatively sway market sentiment and AEVO’s trading value. At the time of writing, AEVO was valued at $0.3953, reflecting a slight 0.45% dip in the last 24 hours, prompting investors to reconsider their risk strategies in response to these developments.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/dragonfly-capital-sells-aevo-holdings-at-a-loss" data-wpel-link="internal">Dragonfly Capital Sells AEVO Holdings at a Loss</a></h5>

Dragonfly Capital Sells AEVO Holdings at a Loss

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