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Massive Cryptocurrency Whale Has Been Selling This Altcoin For Two Weeks: Price Drops Again

source-logo  en.bitcoinsistemi.com 26 November 2023 11:45, UTC

A large cryptocurrency whale, known by the short address 0x915, continued its sales today after disposing of its Rollbit (RLB) altcoin assets over the past two weeks.

In its most recent transaction, the whale sold 13 million RLBs for 2.275 million USDC at an average price of $0.175 per RLB in just 1.5 hours. RLB price is trading at $0.1742 at the time of writing this article.

The whale in question disposed of a total of 30.4 million RLB over the past two weeks for 5.536 million USDC, at an average price of $0.182 per RLB. The RLB tokens sold were withdrawn from official Rollbit hot wallets.

Following the sales, the received USDC was quickly deposited to Kraken.

The continuous selling wave of the whale has caused a significant impact on the price of RLB. In this selling wave, the price fell as much as 6.3% and has fallen by approximately 33% in the last two weeks. Remarkably, the price tended to fall sharply after each sell wave of the whale.

Chart taken by Spotonchain showing the price falling every time the whale sells RLB.

At this time the whale no longer has any RLB. However, it is unknown whether Rollbit will withdraw more tokens to sell from hot wallets. RLB, which is not listed on any major cryptocurrency exchange, attracts attention with a market value of $ 574 million.

*This is not investment advice.