A crypto whale that held AI16Z tokens for three months eventually gave in and had to close a large part of their position with a loss of $1.92 million.
Large investors, referred to as 'whales' in the cryptocurrency market, sometimes fail in their long-term strategies. According to data shared by the blockchain analysis platform Lookonchain, a whale that invested by spending 18,000 Solana (SOL) three months ago faced a significant loss. The said investor had purchased 6.51 million AI16Z tokens at a price of $0.57 with 18,000 SOL worth $3.68 million three months ago.
Due to the market conditions not meeting expectations, the investor had to sell some of their tokens at a loss today. According to Lookonchain data, the whale sold 4 million AI16Z tokens at a price of $0.26, earning a total of $1.05 million, thus realizing a loss of approximately $1.92 million.
An interesting point was that the investor did not prefer to close all of their positions. The whale still holds 2.51 million AI16Z tokens, and the current value of these tokens is approximately $702,000.