Altcoins
Whale Loses Over $8,430,000 After Capitulating on Ethereum and Two Additional Altcoins: On-Chain Data
An unknown whale sold its altcoin positions for a massive loss after the price drop, according to on-chain data.
First reported by blockchain tracking service Lookonchain, a whale has capitulated its positions in Ethereum (ETH) and layer 2 altcoins Optimism (P.O.) and arbitration (ARA).
Lookonchain said the whale, whose wallet addresses start with 0x12199 and 0xac218, suffered losses of $8.43 million.
“So sad!
This whale sold all ETH, OP and ARB at a loss of around $8.43 million.
Sold 6,714 ETH ($19.5 million) at $2,903 and lost $6.45 million!
Sold 428,047 OP ($1.06 million) at $2.48 and lost $902,000!
I sold 901,685 ARB ($882 million) at $0.98 and lost $1.08 million! »
At the time of writing, ETH is trading at $2,888, while OP and ARB are worth $2.45 and $0.962, respectively.
Lookonchain too spotted a “smart money” whale accumulating several altcoins.
According to the company, a wallet starting with 0xd876 accumulated seven digits of the layer one Fantom blockchain (FTM), Creator of decentralized finance (DeFi) projects (MKR) and memecoin Pepe (PEPE).
“What Altcoins Are Smart Money Buying?”
The smart money holds $23.3 million in assets and has already earned $1.67 million in FTM trading.
He recently bought MKR, FTM and PEPE.
FTM
He spent 726 ETH ($2.26 million) to purchase 3.18 million FTM on May 7.
He bought 3.39 million FTM ($1.13 million) at $0.33 on January 24 and sold 3.39 million FTM ($2.8 million) at $0.83 on March 19 , or about $1.67 million on FTM previously.
MKR
He spent $1.25 million to buy 464 MKR at $2,697. [on May 12th] and also spent 379 ETH ($1.22 million) to purchase 428 MKR at $2,846 on April 30.
PEPE
He spent $558,000 to buy 70 billion PEPE on May 8.
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