A giant whale/institution sold 267,000 GMX 6 hours ago, expected to incur a loss of $4 million on GMX

PANews, November 28 news, according to on-chain analyst Yu Jin's monitoring, in early June, a giant whale or institution purchased 302,000 GMX (approximately $13.47 million) at an average price of $45 through six addresses, which pushed the GMX price up by 12%.

6 hours ago, this whale/institution transferred a total of 267,000 GMX (approximately $850) from four of its addresses to Binance for sale. This dropped the GMX price from $33 to $28, a decrease of 14%.

Bought in June at a price of $45, now selling at about $30, this whale/institution has lost $4 million on GMX.