Crypto Whale Sells Over 6,000 ETH at Loss of $320K
On-chain data shows a whale liquidated over thirty-one thousand ETH bought in early November 2024, underscoring the heavy losses possible in a volatile crypto market.
ETH
Summary
On-chain data from Lookonchain reported that a whale sold 31,005 ETH for $92.19 million about six hours ago, resulting in an $18.8 million loss in just two weeks. The whale had purchased 30,838 ETH between November 3 and 10, 2024, at an average price of $3,581 per coin, totaling $110.43 million. This significant transaction highlights the susceptibility of major holders to sharp market swings in the cryptocurrency space.
Terms & Concepts
- Whale: A term used to describe an individual or entity that holds large amounts of cryptocurrency, capable of moving markets with significant trades.
- ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.