Whales lose too: $8.4M loss on Ether and two altcoins

Contrary to expectations, Bitcoin’s sharp rise to $73,000 did not help altcoins. While many crypto investors suffered huge losses, especially in the BTC parity, a whale’s million-dollar purchases also resulted in a huge loss.

Whales lose too: $8.4M loss on Ether and two altcoins

A crypto whale admitted to millions of dollars in losses from his sales. According to on-chain data, the whale, who made purchases of Ether, Arbitrum and Optimism, accepted the loss and switched to USDC after dips.

Trading on 1inch and Uniswap decentralized exchanges, the whale sold 6714 units of Ether ($ 19.5 million), 428 thousand OP ($1 million) and 901 thousand ARB ($882 thousand).

Whale; With the sale of Ether, he also accepted a loss of $6.45 million. The loss amount was $902 thousand for Optimism and $1.08 million for Arbitrum.

The sharp upward movement in Bitcoin since January has not benefited altcoins, and especially the BTC parity has experienced very sharp melting. Most of the altcoins could not show the desired rise in the dollar parity.

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