PEPE Whale Faces EIGEN Loss: $407K Down After Selling 772K Tokens
Release: 2024/10/07 04:25 Reading: 842
Whale Sells $EIGEN at a Loss, Raising Market Concerns
A prominent crypto trader renowned for successful trades has recently incurred a substantial loss by selling .
According to Lookonchain, the trader, who holds a significant position of 3.37T PEPE tokens (worth $31.44 million), sold approximately 772K EIGEN tokens at a loss. This move is seen as a deviation from the trader's typically astute decision-making in the cryptocurrency market.
Whale's EIGEN Loss: A Setback
On October 3rd and 4th, the trader invested in EIGEN, purchasing 909K tokens at an average price of $3.56 per token. However, shortly after, they sold 772K EIGEN tokens at a price of $3.10 per token, resulting in a loss of $407K.
The decline in EIGEN's price impacted the trader's position, leading them to sell the tokens and incur the loss. They currently hold 139.8K EIGEN tokens, valued at approximately $449K.
Whale's Previous Successes
Despite the EIGEN loss, the trader has a history of successful trades. Recent notable examples include a gain of 1203% on PEPE tokens, amounting to $60 million. They have also achieved significant profits with ONDO and BEAM tokens.
Implications for the Whale
While the EIGEN loss may be concerning, it is a reminder of the volatility of the cryptocurrency market. Even experienced traders with a strong track record can face significant losses, particularly when market trends shift rapidly. Notably, the trader's PEPE tokens remain safe and valuable, with a current worth exceeding $31 million.
The question remains whether the trader will regain their previous dominance in the markets despite this EIGEN setback. Their actions will undoubtedly attract attention from the crypto community, as traders monitor the movements of EIGEN and other tokens in the whale's portfolio.
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