Ethereum

Aave

Bitcoin

Drops

<p>The post <a href="https://coinpedia.org/news/whale-sell-off-crashes-crypto-market-ldo-aave-uni-fxs-trading-in-red/">Whale Sell-Off Crashes Crypto Market: LDO, AAVE, UNI &amp; FXS Trading in Red</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Since last week, Bitcoin has been trying to recover after dipping to $58,562. Although it nearly reached $63,976 on July 1, increased selling pressure and continued selling of Bitcoin by the German government forced its price <a href="https://coinpedia.org/news/why-is-bitcoin-price-down-today-came-back-to-60700/" target="_blank" rel="noreferrer noopener">back down to $60,490</a>, reflecting a 3.6% drop.</p> 
<p>On Wednesday, a prominent crypto whale or institutional investor sold millions of dollars worth of LDO, AAVE, UNI, and FXS at a loss, causing a significant decline in the prices of these major tokens.</p> 
<h2 class="wp-block-heading" id="h-major-sell-off-causes-price-drops">Major Sell-Off Causes Price Drops</h2> 
<p>According to a report by the leading blockchain analytical platform Lookonchain, a major whale or institution sold 3.13 million LDO tokens worth $5.77 million, 49,771 AAVE tokens worth $4.54 million, 269,177 UNI tokens worth $2.41 million, and 250,969 FXS tokens worth $708,000.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today this whale/institution sold 3.13M <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a>($5.77M), 49,771 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>(4.54M), 269,177 <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($2.41M) and 250,969 <a href="https://twitter.com/search?q=%24FXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FXS</a>($708K) at a loss.<br><br>This caused the prices of <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a>, <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>, and <a href="https://twitter.com/search?q=%24FXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FXS</a> to drop.<br><br>This whale spent more than $73M to buy <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ecosystem tokens after the… <a href="https://t.co/am8PG1pozE">pic.twitter.com/am8PG1pozE</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1808417502990590044?ref_src=twsrc%5Etfw">July 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>However, these sales were made at a loss, and as a result, the prices of these tokens saw a noticeable decline.</p> 
<p>Meanwhile, this whale had spent over $73 million to buy Ethereum (ETH) and various tokens within the <a href="https://coinpedia.org/news/is-altcoin-season-on-the-horizon-heres-what-analyst-weighs-in/" target="_blank" rel="noreferrer noopener">Ethereum ecosystem</a> after the SEC approved form 19b-4 for an ETH ETF at the end of May. Despite today’s significant sell-off, the whale still holds 3.33 million LDO tokens worth $5.83 million and 31,191 AAVE tokens worth $2.8 million.</p> 
<h2 class="wp-block-heading" id="h-profit-and-loss-analysis">Profit and Loss Analysis</h2> 
<p>Despite the losses from the recent sales, the whale’s overall trading activities have made a total profit of $2.87 million. The breakdown of these figures shows a profit of $7.29 million on ETH. In contrast, there were losses of $3.23 million on LDO and $1.1 million on AAVE.</p> 
<h2 class="wp-block-heading" id="h-impact-on-the-crypto-price">Impact on the Crypto Price</h2> 
<p>As of now, the price of the Lido coin has <a href="https://markets.coinpedia.org/lido-dao/" target="_blank" rel="noreferrer noopener">seen a massive 12.4% drop</a> &amp; trading at $1.77. Along with this, the price of FXS tokens even saw a dip to $2.65 refelting a drop of 8.24%.&nbsp;</p> 
<p>Meanwhile, the Aave coin has seen a drop of 2.5% &amp; currently hovering at $27.60 and the UNI token is <a href="https://markets.coinpedia.org/uniswap/" target="_blank" rel="noreferrer noopener">trading at $8.82</a>, reflecting a drop of 2% seen in the last 24 hours.&nbsp;</p> 
<p>Read Also: <a href="https://coinpedia.org/news/santiment-reveals-top-three-altcoins-to-buy-in-the-midterm/" target="_blank" rel="noreferrer noopener">Santiment Reveals Top Three Altcoins to Buy in the Midterm</a></p>

Whale Sell-Off Crashes Crypto Market: LDO, AAVE, UNI & FXS Trading in Red

Tabla de contenidos

CoinPedia News

Otros artículos publicados el 3 jul 2024

Hong Kong Reevaluates Crypto Regulatory Framework Amid Market Changes

U.S. Court orders Sam Ikkurty to pay $84M for crypto Ponzi scheme

Does Presidential Debate Impact On Crypto Price Today?

Mt. Gox Bitcoin Distribution 'Not Nice In The Short Term But Gets Overhang Out Of The Way,' Trade...

Chromia sets July 16 for MVP mainnet launch

Bitcoin Falls to $60K As Mt Gox Repayment Looms

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!