These things are all appearances, most likely a large fund account (left hand) buying a lot, and countless small accounts (right hand) selling off. There is a small probability that it has become the sole shareholder through stock manipulation. 🙄
余烬Ember
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Do you remember the whale (or institution) that made a big purchase of $EIGEN last year ... it’s a bit tragic for him 😂 $32.45 million was initially bought at a high price for $EIGEN and lost $17.19 million, then he exchanged part of his position for $HYPE, also buying at the highest point and losing $5.21 million. The $32.45 million from October last year is now only worth $10.03 million, losing $22.42 million (-69%) in 5 months.
His money-losing operations👇: 1. First, in October last year, he used 21 addresses to purchase 8.917 million EIGEN for $32.45 million, with an average price of $3.64. 2. At the end of December, he sold 2.417 million EIGEN at an average price of $3.77, exchanging it for 9.12 million USDC. Then at the peak of HYPE at $30.9, he bought 295,000 HYPE, and now the price of HYPE is only $13, resulting in an unrealized loss of $5.21 million. 3. In the past few days, he cut losses by selling 2.862 million EIGEN for $1.068, exchanging it for 31.6 WBTC ($3.05M). 4. Therefore, his $32.45 million from October has now turned into 295,000 HYPE ($3.9M), 3.638 million EIGEN ($3.08M), and 36.1 WBTC ($3.05M). The total value is only $10.03 million now.
His current addresses holding $HYPE: 0x1d6977f23fcddda7a6299549f5b619cb34df9dc9 0xdb09a184cab842c763c757c8aa573edad05b2e1f 0x3cec55f38a1bceecf7f449623f180689795664ef 0x04c912c04c18fc13eff4ecd889c56ae11095866a 0x0a28b6c99930399ff1d982cdbdc83b5873693677 0x9f4c066db60689e97ece2fa15c18c5aba496b636 0x1be8d4ce2a61431903708e8c15ed94557e9a0db7 0xac04edb06f0de2a5fd6cebd671feb6def880b8ff
His current addresses holding $EIGEN: 0x6c7babd6d45edbc6a2b2a0ed1184233cac9d0cd1 0x1f544884d133900c125b467301db94560aba75f1 0x051c563c681e8148a03c0dfc81f5575368f918d3 0x49f48735eb15b6ec5ee1d268e241e3fc6cf378ad 0x5f1088ddce61bfb715630fef3e85b9bcafcb3d1b 0x04fbb30283c28fa7e989ed5c91a2fc338973f34e 0xae69bd41aad7e6909208ffc9bf9f5268e0bc4727
His current addresses holding $WBTC: 0x77a0e29080e52b8d03fc717413b3873e3f476db8 0xce035728bc2c39921335b58c5d88acbaec92121e 0x3ddb46dabc3a9f222e658765f5ad1040504cbfd8 0xc290c0d7ea634e644fda831a91c31cfc0feafb46 0xa5984850ab67822a7f8a28abe2f6d50b46be4ec2
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