Dump on the Popular Altcoin: Whale Dropped Its Price Suddenly with a Bulk Sale on Binance!

Ethereum layer-2 scaling solution Optimisim (OP) experienced a sudden decline due to selling by the whale.

On-chain data and analysis account Spot On Chain, in its post on June 3, included a whale's effective sale that led to a drop in the price of Optimisim.

The whale in question sold 2,095 million OPs worth $5 million on Binance, the world's largest cryptocurrency exchange, yesterday, causing the price to experience a sudden drop of 4.2%.

Whale bought the Optimism coins in question on May 3 by spending 2,000 Ethereum worth $5.99 million. With the sale he made approximately 1 month later, the whale made a loss of 16.5%.

Whale also lost $990 thousand dollars from these transactions.

According to CoinGecko data, Optimisim cleared the post-sale instant dump and found a buyer at $2.44 at the time of writing, with a 1.3% decrease in the last 24 hours.

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