Coin

<ul class="news-points"> 
 <li><strong>Lookonchain’s data shows that DYDX and GRT recorded significant price drops.</strong></li> 
 <li><strong>The price drops were due to massive sell-off by whales across crypto exchanges.</strong></li> 
 <li><strong>Analysts use exchange deposit metrics to gauge investors’ sentiments toward specific assets.</strong></li> 
</ul> 
<p>Lookonchain’s data shows that DYDX and GRT recorded price drops resulting from significant sell-offs from whales. In separate tweets, the smartmoney on-chain analytical platform revealed that <a href="https://coinedition.com/celsius-enters-fresh-market-manipulation-scandal-involving-wintermute/">Wintermute Trading</a> repeatedly deposited large amounts of DYDX on exchanges ahead of the sell-off.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Wintermute Trading has deposited 2.6M <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DYDX</a> ($5.08M) to exchanges, and there are currently 525,413 <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DYDX</a> ($1.02M) left.<br><br>The price of <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DYDX</a> dropped ~8.5% after Wintermute Trading started depositing <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DYDX</a> to exchanges.<a href="https://t.co/GYHsoYKVow" target="_blank" rel="nofollow">https://t.co/GYHsoYKVow</a> <a href="https://t.co/65PJHk9c8B" target="_blank" rel="nofollow">pic.twitter.com/65PJHk9c8B</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1676056670915690496?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 4, 2023</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>The first deposit Lookonchain observed was a transaction involving 653,295 DYDX, equivalent to $1.37 million that Wintermute Trading transferred to centralized exchanges. After making the transfer, the institution had 2.5 million DYDX worth $5.26 million left in its portfolio.</p> 
<p>Several hours later, Lookonchain obser…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/dydx-and-grt-record-losses-due-to-massive-whale-sell-offs/">DYDX and GRT Record Losses Due to Massive Whale Sell-Offs</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

DYDX and GRT Record Losses Due to Massive Whale Sell-Offs

Coin Edition

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