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Three whales sold a total of 1.82 million LINK, equivalent to $26.6 million, via cryptocurrency exchanges Binance and Paraswap in the last two hours. This resulted in a price drop of approximately 4%.
The first whale, known as 0x0fa, allegedly sold 569,908 LINK through Binance for 3,500 ETH, or approximately $8 million. This whale completed two full trading cycles with the following profit and loss (PnL):
In the first cycle between July 20 and September 23, 2023, he lost $191 thousand (-13.6%) from trading 174,138 LINK.
In the second cycle, from September 24 to December 7, 2023, he earned $4.75 million (+118%) from trading 569,908 LINK. The total profit and loss balance was $4.55 million.
Additionally, the whale in question gained $645k (+23.1%) from MATIC while losing $758k (-15.4%) from SNX.
Two other whales, 0x8b9 and 0x362 (presumably the same person since they have the same transaction model), sold 1.25 million LINK for 7,962 ETH at an average price of $14.21, or approximately $17.8 million.
Between July 20 and October 8, 2023, these whales purchased 1.25 million LINK with 5,281 ETH, 2 WBTC and 20,011 USDT (total: $9.28 million) at an average price of $7.4 million. They made an estimated profit of $8.55 million (+92.1%) after sales. Currently, these whales are no longer holding LINK.
*This is not investment advice.