A millionaire crypto investor paid a heavy price for his panic. The trader sold the approximately $3.1 million worth of AAVE tokens he bought 2 weeks ago in order to avoid further losses during last night’s declines. The seller’s 2-week loss was $222,000.

According to the information provided by the on-chain tracking platform Lookonchain, this person, who bought AAVE for $155 in mid-October, panicked last night when Bitcoin fell below $70,000. This person, who sold all 20,527 AAVEs he bought for $144, lost a total of $222,000. On October 15, the AAVE price had risen to $165.

This sale and the resulting loss have once again shown how risky and dangerous short-term investments and panic movements are in the crypto and financial markets.