According to cryptocurrency onchain data, a major crypto whale appears to have admitted defeat and given up after holding onto an altcoin for an extended period of time.
According to the data, the whale in question sold all of his remaining ONDO tokens for $1.72 million a few hours ago. The sale price was $0.76 on average.
Remarkably, this whale had previously purchased 2.28 million ONDO tokens for an average price of $1.39 by paying 843.9 ETH. With the sales it has made so far, the whale has no more of this altcoin. With the sales it made today and on October 4th, which were made at an average price of $0.76, this massive whale lost $1.48 million in a period of 3.5 months. In other words, the whale's total loss was 46%.
At the time of writing, the ONDO price continues to hover around $0.76, the level at which the whale is selling. There has been a 2.55% increase in the last week, while the altcoin's price has gained 11% in the last month.
ONDO, a real-world assets (RWA)-themed altcoin in the Ethereum ecosystem, has benefited from the hype experienced by RWA-themed altcoins and has surged by 355% in the past year.
*This is not investment advice.
