Ethereum

Cryptocurrency

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-sells-four-altcoins-in-the-crypto-market/" data-wpel-link="internal">Whale Sells Four Altcoins in the Crypto Market</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> markets are experiencing various developments today. Today, an important player known as a whale or institution in the <strong>cryptocurrency</strong> market made significant sales affecting the prices of various tokens. The sales in different cryptocurrencies indicated that the whale was making significant preparations. Let’s look at the details.</p> 
<h2 style="text-align: justify" id="whale-sold-4-altcoins">Whale Sold 4 Altcoins</h2> 
<p style="text-align: justify">According to Lookonchain, this whale sold approximately 3.13 million LDO tokens worth about $5.77 million, 49,771 AAVE tokens worth about $4.54 million, 269,177 <strong>UNI</strong> tokens worth $2.41 million, and 250,969 FXS tokens worth $708,000. These sales contributed to a noticeable decline in the prices of LDO, AAVE, UNI, and FXS.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367535 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/whale.png" alt="" width="496" height="847"></p> 
<p style="text-align: justify">This whale had invested over $73 million in Ethereum (ETH) and various Ethereum <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">ecosystem</a> tokens following the U.S. Securities and Exchange Commission’s (<strong>SEC</strong>) approval of a 19b-4 form for an Ethereum Exchange-Traded Fund (ETF) at the end of May. Following this approval, the whale accumulated significant amounts of these tokens, investing in the potential positive impact of the ETF on Ethereum-related assets.</p> 
<p style="text-align: justify">However, the whale has now sold most of these tokens. Currently, they hold only 3.33 million LDO tokens worth approximately $5.83 million and 31,191 AAVE tokens worth about $2.8 million. Despite the losses, the whale’s overall trading activities have resulted in a net profit of $2.87 million to date.</p> 
<h2 style="text-align: justify" id="overall-gains-and-losses">Overall Gains and Losses</h2> 
<p style="text-align: justify">Looking at gains and losses, the whale made a profit of $7.29 million in Ethereum. However, they incurred losses of $3.23 million in LDO tokens and $1.1 million in AAVE. This situation indicated a strategic decision to capitalize on the initial rise in <strong>Ethereum</strong>‘s value following the ETF approval, while enduring losses in other Ethereum ecosystem tokens.</p> 
<p style="text-align: justify">These sales and the subsequent price declines highlighted the impact of large <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> on the <a href="https://en.coin-turk.com/bitcoins-surging-price-whats-next-for-the-king-of-crypto/" data-wpel-link="internal">cryptocurrency market</a>. The actions of such whales can influence market sentiment and token valuations, causing significant fluctuations. This example also demonstrated the risks and rewards of trading and investing in the highly speculative and rapidly evolving cryptocurrency environment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-sells-four-altcoins-in-the-crypto-market/" data-wpel-link="internal">Whale Sells Four Altcoins in the Crypto Market</a></h5>

Whale Sells Four Altcoins in the Crypto Market

Table of Contents

COINTURK NEWS

Muita 3. heinäk. 2024 julkaistuja artikkeleja

Bitcoin Breaks 60,000 Dollar Support Level

The Next Crypto to Reach $1: Top Contenders to Watch ft. BlockDAG, Dogecoin, Tron, Chainlink and XRP

GALA Token To Get Major Boost With Gala Games And Animoca Brands Partnership

Genesis Digital Assets Eyes US IPO for Bitcoin Expansion

Bitcoin Price Prediction: Standard Chartered Sees BTC Hitting $100K By US Election Day As Experts...

Bitcoin Eyes $63,000 Amid Positive Liquidity Trends and Technical Breakout Signals

Join our free newsletter for daily crypto updates!