Cryptocurrency The market is known for its volatility and unpredictability, but some traders seem quite adept at making bad decisions.
Two more crypto whales, according to on-chain data altcoin suffered great losses in the moves they made to save.
The first whale, identified by wallet address 0xd60d, was 2,000 at the highest price of $915 from Binance on March 7, 2023. Maker (MKR) accumulated the token ($1.83 million).
Whale then bought another 2,200 MKR tokens from Binance at $623 ($1.37 million) 26 hours ago, lowering the average purchase price to $762 (-16.7%). However, the MKR price dropped to $610 at the time of this writing, resulting in an unrealized loss of $549,900 for the whale.
The second whale, known by its ENS name molesy.eth, is $202.6K 10 hours ago at $0.67 Synthetix Network Token (SYN) exchanged 135,000 USD Coins (USDC) in return.
This whale completed 10 trading cycles in the past year and has been trading SYN for a long time. However, the whale lost more than it earned in these transactions, with the biggest loss being -606,000 dollars in the 83 days from March to June 2022.
The biggest gain was +121k in 90 days from November 2022 to February 2023.
The current SYN price is $0.62, meaning the whale has a realized loss of $737,000 from its last trade.
*Not investment advice.
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