Crypto NewsAltcoinGiant Cryptocurrency Whale Dumped its Altcoins on Binance at a Loss, Price...

Giant Cryptocurrency Whale Dumped its Altcoins on Binance at a Loss, Price Plummets

When a large cryptocurrency whale transferred his long-held altcoins to Binance, there was a drop in price.

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While the stagnant period following the recent declines in the cryptocurrency market continues, a whale wallet interestingly sold the altcoin it had been holding for a long time at a loss.

The cryptocurrency whale recently dumped approximately 2 million Synthetix (SNX) tokens onto Binance. The whale in question purchased these tokens last May at an average price of $2.4. At that time, Balina paid 4.9 million USDT for these tokens.

Whale probably made this sale at around $2.10. According to calculations, the total loss of the whale wallet from this transaction was recorded as approximately 785,000 dollars.

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After the news spread that the whale dumped the SNX token on the stock market, the price of the token decreased by 5% with the sales by onchain observers and at the time of writing this article, it is trading at $ 2.

Daily chart showing the decline in SNX price after the whale's move.

SNX, which can be considered a mid-sized altcoin with a market value of $ 540 million, has lost approximately 17% in value in the last year. However, the token hit its all-time high 3 years ago at $28.77.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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