Crypto NewsAltcoinTwo Giant Crypto Whales Traded This Altcoin, Losing Massive Losses!

Two Giant Crypto Whales Traded This Altcoin, Losing Massive Losses!

Two giant cryptocurrency whale wallets have lost surprisingly large amounts in their latest transactions.

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The cryptocurrency market is known for its volatility and unpredictability, but some traders seem quite adept at making bad decisions.

According to on-chain data, two crypto whales suffered huge losses in their moves to accumulate more altcoins.

The first whale, identified by wallet address 0xd60d, amassed 2,000 Maker (MKR) tokens ($1.83 million) from Binance on March 7, 2023, at the highest price of $915.

Whale then bought another 2,200 MKR tokens from Binance at $623 ($1.37 million) 26 hours ago, lowering the average purchase price to $762 (-16.7%). However, the MKR price dropped to $610 at the time of this writing, resulting in an unrealized loss of $549,900 for the whale.

The second whale, known by its ENS name molesy.eth, traded 135,000 USD Coin (USDC) for 202.6K Synthetix Network Token (SYN) 10 hours ago at $0.67.

This whale completed 10 trading cycles in the past year and has been trading SYN for a long time. However, the whale lost more than it earned in these transactions, with the biggest loss being -606,000 dollars in the 83 days from March to June 2022.

The biggest gain was +121k in 90 days from November 2022 to February 2023.

The current SYN price is $0.62, meaning the whale has a realized loss of $737,000 from its last trade.

*Not investment advice.



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