A cryptocurrency whale that had amassed 130,000 Lybra Finance (LBR) altcoins through a group of smart trades sold all its holdings for a loss of 45 ETH (about $85,635) today, causing the token price to drop.
According to on-chain data, the whale swapped 50 ETH for 68,259 LBR on May 20, 100 ETH for 50,944 LBR five days ago, and 25 ETH for 11,467 LBR at the token price peak four days ago. Then, 14 hours ago, he sold all his LBR for 130 ETH, accepting a loss of 45 ETH for this transaction.
The LBR price, which climbed up to $ 4.5 in the current week with the movements of the whale, is trading at an average of $ 1.46 after an additional 40% decrease during the day.
The whale sold its tokens at a level around the $2.2 LBR price level.
The Lybra Protocol is a decentralized protocol that aims to provide a stable and interest-bearing stablecoin called eUSD. eUSD is backed by liquid staking derivatives ETH and stETH that generate revenue from proof-of-stake rewards. Users can deposit ETH or stETH, print eUSD in return and, in theory, earn stable income in eUSD from stETH rewards.
*Not investment advice.
