US-based cryptocurrency investment firm Dragonfly Capitalsold all of its AEVO by sending 62.62 million AEVO worth approximately $25.04 million to the FalconX exchange. The company lost approximately $36.84 million with this transaction. Thus, Dragonfly Capital sold all of its AEVO that it had held since May.
Transactions in May and Source of Loss
Dragonfly Capital, May 13-15 Coinbase exchange withdrew 63.23 million RBNs at an average price of $0.9882. These RBNs were then exchanged for AEVO at a 1:1 ratio.
The current price of AEVO is currently at $0.39, indicating that Dragonfly Capital has experienced a 59 percent drop in AEVOs and is taking a huge loss.
Major Transfer to FalconX
With the major transfer that took place in the last eight hours, Dragonfly Capital has lost all of its AEVO Falcon X The company has thus sold all of the AEVOs it has held since May. This transaction stands out as an important example of how large funds can manage their positions and change strategies according to market conditions.
Dragonfly Capital’s move to AAVE could have implications for the altcoin’s investors and the rest of the cryptocurrency market. The massive sell-off by funds could skew overall market sentiment and altcoinIt may negatively affect the price of . According to the latest data at the time of writing, AEVO’s price is trading at $ 0.3953. This price threshold indicates that the price has fallen by 0.45 percent in the last 24 hours, in other words, altcoin investors are affected by Dragonfly Capital’s move.
This development may cause AEVI investors to reconsider their decisions on risk management and strategy. In particular, the market movements of large funds and the effects of their transactions can be considered as an important indicator for individual investors.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
