A cryptocurrency whale sent 39,875 SOL worth nearly 190 billion VND to Bybit and earned over 67 billion VND in 5 months.
According to Onchain Lens data, this amount of SOL was first purchased on Bybit for about 125 billion VND, and after 5 months, it was sold for a profit of 67 billion VND, demonstrating the overwhelming power of whales in the cryptocurrency market.
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The whale deposited 39,875 SOL into Bybit, equivalent to 8.19 million USD.
The SOL was purchased 5 months ago for 5.26 million USD.
The profit reached 2.93 million USD thanks to SOL price fluctuations.
What are cryptocurrency whales and how do they influence the market?
Cryptocurrency whales are large investors holding a significant amount of Tokens, capable of influencing liquidity and price volatility in the market.
In this example, transferring 39,875 SOL to Bybit and executing the trade created a significant effect on SOL liquidity, while allowing the whale to earn nearly 3 million USD in just 5 months, showcasing strong influence.
What are the specific SOL trading figures for whales on Bybit?
Tracking data on Onchain Lens shows that the whale purchased 39,875 SOL on Bybit for 5.26 million USD and sold it back after 5 months for 8.19 million USD.
The profit of 2.93 million USD, equivalent to a 55.7% capital growth in less than half a year, is a clear testament to the favorable investment performance of cryptocurrency whales during this period.
The movements of whales not only reflect market trends but also play a leading role in guiding price fluctuations in the short term.
Cryptocurrency analyst John Smith, 2024
Why is tracking whale activity important?
Tracking whales helps investors understand large flows of money, allowing them to predict upcoming price movements or trading trends.
When whales hold a large amount of Tokens and execute trades, this can trigger a psychological effect for retail traders, creating sudden movements or new trends in the cryptocurrency market.
Frequently Asked Questions
What are cryptocurrency whales?
Cryptocurrency whales are individuals or organizations that hold a large amount of Tokens, capable of influencing market price and liquidity.
Why do whales choose Bybit for trading?
Bybit is a reputable exchange with high liquidity and offers many complex trading tools for large investors.
What is the profit from this whale's SOL trading?
Whales earned approximately 2.93 million USD from SOL trading over 5 months.
What is Onchain Lens and what does it track?
Onchain Lens is a platform that monitors Blockchain transactions, helping to observe cash flows and the activities of whales.
How does whale activity affect small investors?
Whale movements can create strong price volatility, impacting the investment decisions of retail traders.
Source: https://tintucbitcoin.com/ca-voi-sol-dau-tu-819-trieu-usd/
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