blockchainreporter.net
A Sandbox whale has made a significant move in the cryptocurrency market. The trader transferred 1,953,097 $SAND, valued at $1.48 million, into Coinbase. This move was reported by Onchain Lens. The average price that the whale paid for $SAND was $0.76.
A whale has transferred 1,953,097 $SAND, valued at $1.48M, into #Coinbase at an average price of $0.76.
— Onchain Lens (@OnchainLens) November 25, 2024
The trader accumulated these $SAND over a month for approximately $484,899.
With $SAND's recent price surge, the whale is now enjoying a massive $1M profit.… pic.twitter.com/BECH3tPeZf
Whale Profits $1M from Sandbox $SAND Acquisition
Notably, the trader has been acquiring these $SAND tokens in the last one month. Total acquisition cost was estimated to be about $484, 899. It is evident from this strategy that the whale is keen on the process of building up the asset at a cheaper price.
Recently, the price of $SAND went up. This has led to a huge profit for the whale in question. It is now possible to determine that the current value of the $SAND tokens is $1.48 million. This is the situation where the trader is making a profit of approximately one million dollars.
Crypto Whale’s $1 Million Profit Proves Market Timing Pays Off
This move signifies the fact that the market of cryptocurrency is quite unpredictable. That’s why depending on price fluctuations, traders can get a lot of advantages. But it also demonstrates how much is at stake when you make such high stakes investments.
Lastly, the whale that bought Sandbox ($SAND) when its price was low and sold it after the rise received good money on it. By making $1 million in profit, the whale has shown that he or she knows how to time the market. This move could be a good precedent for other traders who seek to obtain profit from cryptocurrency price fluctuations.