Whale Investor Sees Nearly 9x Return on $226K APX Purchase
An on-chain analyst revealed that a whale sold millions of APX tokens at $0.25, missing higher profits, while retaining a large stake valued at current market prices.
Summary
An on-chain analyst reported that a whale who staked 13.3 million APX two years ago has sold 9.07 million APX in the past four days for $2.27 million at an average price of $0.25. At the time of staking, APX was valued at $0.033, worth $440,000. Although the whale’s staking rewards exceeded the initial investment, selling at $0.25 instead of the current $1.60 resulted in missing $12.7 million in potential profit. The whale still holds 5.35 million APX valued at $8.82 million.
Terms & Concepts
- Whale Investor: A term used in cryptocurrency markets to describe an individual or entity that holds large amounts of a particular digital asset, capable of influencing market movements.
- APX: A cryptocurrency token, the subject of trading in this case, where a whale made significant buys and sells.