The whale, which bought $2.6 million in crypto, lost $87K in a short period of time

While the big gains made by whales in a short time in recent weeks, especially Solana-based meme coins, have been talked about a lot in the crypto world, losses do not go unnoticed.

Couldn't be patient, sold and lost

A whale bought LINK for $2.6 million in USDC, but after the drop in price, it sold within hours and lost a significant amount. According to on-chain tracking platform Lookonchain, the whale received $2.65 million worth of LINK at $15.77. However, 3 hours later, he sold his tokens for $2.565 million. Thus, the crypto investor suffered a loss of $87,400 (USDC) within hours.

Chainlink has been on investors' radar with its great rise in recent months. While LINK was hovering around $6 in September, it then made a big jump and rose to $17 at the beginning of December.

Behind LINK's rise was the transfer of tokenized assets as a result of working with major banks.

Chainlink; SWIFT, Citi, BNP Paribas, and BNY Mellon were involved in the successful transfer of tokenized assets in trials involving many large institutions.

Published: January 16, 2024 12:42 pm