Whale Influences Crypto Market Prices

According to Lookonchain, the whale offloaded around 3.13 million LDO tokens valued at approximately $5.77 million, 49,771 AAVE tokens worth about $4.54 million, 269,177 UNI tokens valued at $2.41 million, and 250,969 FXS tokens worth $708,000. These considerable sales resulted in a significant drop in the prices of LDO, AAVE, UNI, and FXS tokens.Previously, this whale had invested over $73 million in Ethereum (ETH) and various tokens within the Ethereum ecosystem following the U.S. Securities and Exchange Commission’s (SEC) approval of a 19b-4 form for an Ethereum Exchange-Traded Fund (ETF) in late May. The whale’s strategy was to accumulate these tokens, banking on the positive impacts of the ETF on Ethereum-related assets. In terms of gains and losses, the whale managed to secure a profit of $7.29 million in Ethereum. However, they experienced losses of $3.23 million in LDO tokens and $1.1 million in AAVE. This scenario points to a strategic maneuver to capitalize on Ethereum’s initial price surge following the ETF approval while accepting losses in other Ethereum ecosystem tokens.

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