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While the stagnant period following the recent declines in the cryptocurrency market continues, a whale wallet interestingly sold the altcoin it had been holding for a long time at a loss.
The cryptocurrency whale recently dumped approximately 2 million Synthetix ($SNX) tokens onto Binance. The whale in question purchased these tokens last May at an average price of $2.4. At that time, Balina paid 4.9 million USDT for these tokens.
Whale probably made this sale at around $2.10. According to calculations, the total loss of the whale wallet from this transaction was recorded as approximately 785,000 dollars.
After the news spread that the whale dumped the $SNX token on the stock market, the price of the token decreased by 5% with the sales by onchain observers and at the time of writing this article, it is trading at $ 2.
$SNX, which can be considered a mid-sized altcoin with a market value of $ 540 million, has lost approximately 17% in value in the last year. However, the token hit its all-time high 3 years ago at $28.77.
*This is not investment advice.
u.today
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coindesk.com
