Crypto News Update: Whale Sells Off Altcoins at Loss, Transfers Holdings to Binance
In a significant move following recent market declines, a major whale investor has decided to capitulate, selling off all remaining LDO and AAVE tokens at a loss. The transactions were executed on Binance, as reported by Lookonchain.
According to reports, the whale deposited 3.33 million LDO valued at $5.67 million and 31,191 AAVE valued at $2.56 million onto the exchange platform. This decision marks a culmination of recent selling activities by the whale, who had earlier sold 3.13 million LDO ($5.77 million), 49,771 AAVE ($4.54 million), 269,177 UNI ($2.41 million), and 250,969 FXS ($708 thousand) at a loss, impacting the market prices of these assets negatively.
Previously, this institutional investor had aggressively bought over $73 million worth of ETH and Ethereum-based altcoins following the SEC’s approval of 19b-4 filings for Ethereum ETFs in late May.
In response to these actions, the prices of LDO and AAVE have seen declines of 2.4% and 6% respectively in the past 24 hours, with LDO trading at $1.68 and AAVE at $81.5.
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