Giant Cryptocurrency Whale Dumps Altcoin at the Loss of Binance, Sudden Drop in Price

cryptocurrency While the stagnant period following the recent declines in the market continued, a whale wallet interestingly sold at a loss from the altcoin it had been holding for a long time.

Cryptocurrency whale recently sold approximately 2 million Synthetix (SNX) dumped its token to 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.

Daily chart showing the decline in SNX price following the whale’s move.

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.

For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!

source site-4