🚨NEWS IN: WHALE MOVES🔥🔥🔥
On October 3rd: In a significant move signaling a potential capitulation, a major cryptocurrency investor, commonly known as a "whale," has offloaded a massive stash of $WLFI tokens at a substantial loss. According to data from Ashes Monitor on October 3rd, the entity transferred a staggering 90 million WLFI tokens, valued at approximately $18.46 million, to the Bybit exchange.
This action is particularly notable given the whale's accumulation history. Just one month ago, this same investor withdrew 96.88 million $WLFI tokens from a centralized exchange (CEX) at an average price of around $0.225 per token. The recent deposit to Bybit, a precursor to a likely sale, indicates the whale is closing this position for a significantly lower value.
The math reveals a painful outcome: the investor is currently facing an unrealized loss of $1.89 million on this trade. Such a large-scale deposit into an exchange often creates immediate selling pressure on the asset, potentially leading to further short-term price declines for WLFI. This event serves as a stark reminder of the high-risk, high-volatility nature of the crypto market, where even well-capitalized players can mis-time their entries and exits, leading to multimillion-dollar losses.
NOT financial advice, DYOR.
Source: Lookonchain