Cryptocurrency whale sold at a loss because of 3 altcoins.

According to on-chain data, an unknown whale sold its altcoins for a huge loss after prices crashed. First reported by blockchain tracking service Lookonchain, the whale sold its positions in Ethereum (ETH) and layer 2 altcoins Optimism (OP) and Arbitrum (ARB) at a loss. Lookonchain announced that the whale, whose wallet addresses started with 0x12199 and 0xac218, suffered a loss of $ 8.43 million:

"So sad! This whale sold all ETH, #OP and ARB for a loss of approximately $8.43 million. He sold 6,714 ETH ($19.5 million) at $2,903 and lost $6.45 million. He sold 428,047 OP ($1.06 million) at $2.48 and lost $902,000. He also sold 901,685 ARB ($882 million) at $0.98 and lost $1.08 million.”

However, at the time of writing, ETH was trading at $2,981, while OP and #ARB were trading at $2.53 and $1.01, respectively.

Which altcoins are the smart money whale buying?

Lookonchain also noticed a smart money whale accumulating several altcoins. According to the company, the wallet starting with 0xd876 purchased Fantom (FTM), Maker (MKR) and Pepe (PEPE). Whale has assets of $23.3 million and had previously traded FTMs of $1.67 million. It recently acquired MKR, #FTM and PEPE.

On May 7, he spent 726 #ETH ($2.26 million) to buy 3.18 million FTM. On January 24, he purchased 3.39 million FTM ($1.13 million) at $0.33. It previously earned ~$1.67 million from FTM by selling 3.39 million FTM ($2.8 million) at $0.83 on March 19.

On May 12, he spent $1.25 million to buy 464 MKR at $2,697. He also spent 379 ETH ($1.22 million) to buy 428 MKR at $2,846 on April 30.

Finally, the cryptocurrency whale spent $558,000 to buy 70 billion #PEPE on May 8.
$ETH $ARB $PEPE