#SPX

Altcoin Whale Multiplies His Money by 289: Earns $14 Million and Starts Selling

A giant altcoin whale with a wallet worth tens of millions of dollars has started selling after multiplying his money by 289.

A giant whale in the cryptocurrency market has started selling 19.15 million SPX tokens (about $15.7 million) for profit. According to Lookonchain, the whale made about $14 million in profit from the SPX tokens, a 289-fold return on that investment.

Selling pressure may continue

The whale spent $48,400 to buy 19.15 million SPX on the Solana network between January 29 and March 21. He then moved all of his SPX holdings to the Ethereum network and started selling on October 3. He has sold 4.15 million SPX for 708 ETH (approximately $1.71 million) and still has 15 million SPX (approximately $12.3 million).

These sales, along with the high profits the whale has realized, could put significant pressure on the price of SPX. Investors are closely watching how such large sales will affect price movements in the market.