A prominent cryptocurrency trader, who previously made an incredibly successful trading move, is now facing significant financial loss after selling
$EIGEN tokens. According to a report by Lookonchain, this experienced whale, who holds 3.37 trillion
$PEPE tokens worth $31.44 million, sold 772,000 EIGEN tokens, leading to a substantial loss. This move has surprised the
#CryptoCommunty , where the trader is known for his sharp market insights.
Whale’s EIGEN Loss: A Significant Blow
On October 3rd and 4th, the whale decided to invest in
#eigen , purchasing 909,000 tokens for 1,360 ETH, which amounts to $3.24 million. The average price at the time was $3.56 per token. However, just a few days later, the whale sold 772,000 EIGEN tokens for 988.5 ETH, or $2.39 million. This meant the average selling price was only $3.10 per token, resulting in a significant loss.
This drastic drop in the price of EIGEN negatively impacted the whale's holdings, leading to a total loss of $407,000 from the unrealized value of the asset. The whale still holds 139,800 EIGEN tokens, which are currently valued at around $449,000. This unexpected sale has left traders questioning what motivated the whale to sell at such unfavorable conditions and whether external market forces influenced the decision.
The Whale's Impressive Trading History
This trader is well-known for previous successes. For instance, the whale made $60 million on
#pepe⚡ , an astonishing 1203% profit over a few months. The whale has also seen significant gains with other tokens, such as ONDO, where a profit of $5.8 million (+288%) was made, and
#Beam , yielding $1.85 million (+72%). These achievements confirm the whale's tactical approach to the market.
What’s Next?
Even though this loss on EIGEN doesn’t align with the whale’s previous successful trading activities, it demonstrates how unpredictable and risky the cryptocurrency market can be. Even experienced traders with stellar track records can suffer substantial losses, especially when market trends shift rapidly. However, the whale still holds
#PEPETokens worth over $31 million, which remain secure for now.
The question remains: will this trader recover from this EIGEN loss and regain his dominant position on the crypto market? In any case, the crypto community will closely watch the whale’s future moves, especially concerning EIGEN and other tokens in the whale's portfolio.
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“