According to Coincu, a crypto whale's unexpected decision to halt selling and buy 1514 MKR with 1085 ETH, worth $1.73 million, after losing $1.36 million has caught the attention of the crypto community. The whale's sudden shift involves MAGIC, ARB, and RDNT tokens, sparking speculation about their strategy and market sentiment.
On-chain analyst Yu Jin reported that a prominent whale abruptly stopped their continuous selling of MAGIC, ARB, and RDNT tokens, resulting in a staggering loss of $1.36 million. However, the same investor executed a daring buy order, using 1085 ETH to acquire 1514 MKR, valued at approximately $1.73 million, at an average price of $1143 per MKR.
Further investigation into the whale's portfolio revealed that they had previously accumulated 2.91 million MAGIC tokens between December 2022 and February 2023 at a cost of $0.75 each. Despite MAGIC's threefold increase in value since its acquisition, the whale chose not to capitalize on this surge and instead sold the tokens at a recent loss. This high-stakes crypto drama has left the community intrigued and puzzled, sparking debates about risk management and market speculation.
