The Whale Left the Rally Expectation in the Altcoin It Collected Continuously, Sold at a Loss! - Coin Newsletter

A whale noted for its big moves in the cryptocurrency market sold all of its HYPE tokens at a loss and lost more than $1.8 million in a single transaction.

According to the latest data shared by cryptocurrency analysis platform Lookonchain, a cryptocurrency whale bought a large amount of HYPE on the Hyperliquid platform by depositing a significant amount of USD Coin (USDC) in about a week.

From Feb. 25 to March 4, the whale purchased 266,000 HYPE for a total of $5.08 million. The average purchase price per token was $19.08.

However, the market expectation of the big investor did not materialize, and the whale only disposed of all the HYPE it had recently owned in a quick decision. The total value of the whale's sale was $3.27 million, with an average sale price of $12.27. With this move, the whale's week-long adventure ended with a great loss.

Whales' harmful moves are increasing!

This situation draws attention to the losses experienced by whales who aim for quick profits by taking high risks in the cryptocurrency market recently. In particular, high-volume transactions in meme coins and new projects cause large losses from time to time. This loss suffered by the whale also shows that investors need to reevaluate their risk management.

On the other hand, another anonymous whale had previously bought HYPE with an investment of approximately $3.92 million USDC on the Hyperliquid platform, and even opened a long position with 3x leverage, revealing the market expectation in the bullish direction. However, due to the market going awry, that investor also faced $1.47 million in unrealized losses.