Surprisingly, a long-dormant whale known by the short wallet address 0xd2c has reportedly deposited 6.99 million Basic Attention Tokens (BAT) to Coinbase, equivalent to $1.49 million at a price of $0.212 per token.
What makes this transaction notable is that this whale had previously accumulated this BAT from Coinbase at a higher price of $0.257 per token. The accumulation period ran from October 18 to December 20, 2022, and the total cost was recorded as $1.8 million.
If the whale actually traded at the levels it deposited and withdrawn on the exchanges, this means that the whale in question lost $311,000, or 17.3%. Whale suffered this loss even though he had been holding BAT tokens for more than a year.
As of now, the whale in question reportedly no longer has any BAT.
BAT, which is among the mid-sized cryptocurrencies with a market value of $324 million, has lost 34% of its value in the last year. Bitcoin, on the other hand, increased by 64% in the same time period.
*This is not investment advice.