A cryptocurrency whale has made a number of significant transactions over the past two days. Blockchain analysis platform lookonchainAccording to ‘s data, the whale is the largest holder of all SPX assets. memecoin Replaced it with DOGE. This transaction had a wide impact in the cryptocurrency market.
Made a Big Profit with the SPX Sale
cryptocurrency whalesold a total of 10.6 million SPX shares for 6.2 million dollars. He earned approximately 920 thousand dollars from this transaction, but this profit was short-lived. Because he spent all his earnings to buy 13.95 million DOGE. DOGEThis investment is currently at a loss of $1.33 million as its market value has decreased.
Whale sold 10.6 million units of SPX at a high market price. This sale means a significant change in the investor’s portfolio. The $6.2 million sale attracted the attention of other investors in the market. Transferring the proceeds from the sale to DOGE made this transaction even more striking.
DOGE investment was considered a risky move due to the volatile nature of the market. SPXDespite the strong performance of , the whale transferred all its assets to DOGE. However, the recent decline in the price of the largest memecoin caused this move to suffer losses in the short term.
Whale’s DOGE Investment Made a Loss
Balina may have tried to diversify its portfolio with its DOGE investment. However, market conditions did not support this strategy. DOGE’s current price has caused a significant decrease in the investor’s total portfolio value. $6.2 million cryptocurrency his investment is currently worth only $4.88 million.
This large transaction brought controversy in the cryptocurrency market. It is important for investors to conduct market analysis before such large transactions. Risks taken especially in volatile cryptocurrencies can lead to huge losses. This whale process cryptocurrency marketIt once again revealed the unpredictability of .
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
