ChainCatcher message, the blockchain data monitoring platform Spot On Chain recently captured a long-term holder whale of Injective (INJ) who sold 243,699 INJ through Bybit and CowSwap in just 12 hours, worth approximately 7.39 million USD. This action directly led to a 7.7% drop in the price of INJ.

This whale accumulated most of the INJ at an average price of 10.92 USD between February 2021 and July 2022. At the market peaks in 2023 and 2024, he sold at approximately 35.9 USD, successfully realizing a profit of about 15.21 million USD, with a return rate of 2.3 times and a holding period of 3.5 years.

This event once again reminds investors to pay attention to on-chain data and market dynamics, as the movements of whales often have a significant impact on market prices.