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Giant Whale Sells All His Altcoins at a Loss Due to Stop Loss

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A giant whale with short cryptocurrency address 0x448 sold all 213,695 Lybra Finance (LBR) tokens.
As a bitcoin result of the sale, which took place in just six minutes with four separate transactions, the trader obtained 86.45 ETH, corresponding to approximately 201 thousand dollars. The average price of the tokens sold was $0.939. LBR price is trading at $0.9228 at the time of writing this article.
Whale wallet had previously purchased these LBR tokens on November 19, 2023 and December 27, 2023, spending a total of 125 ETH. The average price per token at that time was $1,215.
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However, the recent sell-off resulted in a loss for the trader. His return (ROI) on his last trades was -28.2%, turning into a loss of 38.5 ETH or approximately $85.3 thousand after just two months.
The sell-off follows a 12% drop in LBR’s price over the last 24 hours, which was largely attributed to the general market crash. This significant drop in value may have led to the activation of a ‘stop loss’ function that the trader set up in an attempt to stop further losses, resulting in the sale of all LBR holdings.
As of now, the whale no longer holds the LBR token.
*This is not investment advice.
Continue Reading: Giant Whale Sells All His Altcoins at a Loss Due to Stop Loss

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