blockchainreporter.net
An inactive cryptocurrency whale recently moved 118,090 Quant ($QNT) tokens. It is worth about $9.76 million. These tokens have been moved to the Kraken exchange after six years of dormancy. According to SpotOnChain, an AI-driven platform providing traders with on-chain insights, this whale originally accumulated 326,000 QNT tokens six years ago. At the time of buying their total value was just $200,000.
Inactive for Six Years, whale moves 118.09K $QNT ($9.76M) to Kraken, missing $130M Profit.
— Spot On Chain (@spotonchain) June 17, 2024
Six years ago, the address accumulated 326K $QNT, valued at just $200K at the time, and remained inactive for 6 years.
It notably missed the 2021 uptrend, which could have brought its… pic.twitter.com/p1r3jllUj6
Inactive Whale Lost $130M Peak, Sells for $26M Profit
The whale’s inactivity during the uptrend in the 2021 market left it out of high water of $130 million, which is 650 times its current value. However, this was missed and the recent one of selling the tokens is still holding lot of profit-making ability.
The rationale for this decision to sell the tokens now still remains unclear. Even if the whale dumps all 326,000 QNT tokens at the current market price, it will still make a profit of roughly $26 million.
Crypto Community Watches Whale’s $QNT Transfer to Kraken
This activity has attracted interest within the cryptocurrency community given that it demonstrates how timing and the market influence the investment. The behaviors of the whale are an indication to the people in the crypto trading that gains are achievable provided that certain trends are exploited.
When whales begin swapping $QNT to the Kraken exchange, traders and investors will be ready to find out how this will affect the market. The transfer of such a vast number of tokens can influence the price and volume of QNT in the coming days.
Finally, this occurrence exemplifies the importance of decision-making on cryptocurrencies and the consequences of timing and market sensitivity.