Giant Cryptocurrency Whale Couldn’t Wait on the Altcoin He Bought 50 Days Ago, Sold It All at a Huge Loss

Cryptocurrency onchain data revealed that a large whale recently lost a large amount of money in an altcoin and exited the market completely.

According to the data, this big whale purchased 1,100 Maker (MKR) on July 27 at an average price of $2,643 and paid a total fee of $2.91 million.

However, things did not go well for this crypto whale. Onchain data reveals that this crypto whale recently sold all of his MKR tokens on Binance at an average price of $1,613, incurring a total loss of $1.13 million. Proportionally, this whale lost 40% in just 50 days and exited the market.

Slightly different from the general cryptocurrency market decline, MKR has suffered a major loss, especially in the last month. Decentralized finance platform Maker was recently discussing stopping the printing of DAI in exchange for Wrapped Bitcoin (WBTC).

There were rumors that Wrapped Bitcoin would eventually end up in the hands of Tron founder Justin Sun.

*This is not investment advice.