Whale Sells All Two Altcoins, One at a Profit and One at a Loss, on Binance!
A whale moved two entire altcoins to sell on Binance.
On-chain data and analysis account Lookonchain included a whale preparing to sell in a post shared on Twitter on June 3.
The subject whale with wallet â0x09d86â took action to sell in Synthetix (SNX) and PancakeSwap (CAKE) altcoins at midnight ET. The investor deposited 1.59 million SNX worth $4.54 million and the entire investment of 2.62 million CAKE worth $7 million on Binance.
The whale, which purchased SNX at a cost of $4, disposed of its entire investment and suffered a loss of $1.8 million. In CAKE, the whale, who bought at $2.62, made a profit of $256 thousand and offset some of the SNX loss.
According to CoinGecko data, SNX is trading at $2.67 at the time of writing, down 6.7% in the last 24 hours, while CAKE is trading at $2.67, down 3.3%.
Recently, a whale sold Optimisim, causing a sudden drop in the price.
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