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Solana Whale Sells $84M Using Dollar-Cost Averaging Strategy
#solana #Ethereum #LookOnchain #DCA
A Solana whale has been steadily selling tokens using a dollar-cost averaging (DCA) strategy, reaching $84 million in total sales this year.
Whale's Gradual Sales Strategy
Since January 15, this whale has sold 594,000 SOL tokens, worth about $84 million, by making smaller transactions to major exchanges like Coinbase, Binance, and OKX. Their latest sale on August 13 involved 20,000 SOL, valued at $2.8 million. The DCA approach minimizes market impact and spreads out risk.
Ethereum Whale Using Similar Tactics
Similarly, an Ethereum whale has been selling tokens since July 8. By August 12, they deposited $13.2 million worth of ETH into OKX, totaling $154 million in sales at an average price of $3,176 per ETH. Meanwhile, another Ethereum wallet purchased 5,000 ETH on the same day, adding $12.8 million to their holdings.
DCA Strategy Explained
The DCA strategy, often used in crypto investing, involves making smaller, regular transactions over time to reduce the risk of mistiming the market. This approach, effective for both buying and selling, helps investors secure profits without triggering significant price fluctuations.
