Whale Continues to Sell: Nearly 890,000 FET Liquidated, Losing Around $2.29 Million

According to tracking data from OnchainLens, a whale executed a sale of 893,123 FET today at a price of $0.465 per FET. These tokens were sold to receive 222 ETH, equivalent to approximately $416,000.

Loss of Over $2 Million

This whale had held the position for four months before deciding to liquidate part of the assets. Previously, the whale had purchased a total of 1.49 million FET valued at $2.98 million, primarily by selling ETH and WOJAK. As a result, the recent transaction caused the whale to incur a loss of approximately $2.29 million.

Remaining FET Holdings

Currently, the whale still holds about 600,000 FET, with an estimated value of $274,000 based on the current market price. It remains unclear whether this whale will continue to liquidate or hold the position for the long term.

Impact on FET Price

Large whale sell-offs often influence market prices, but at present, FET remains stable around $0.465. Whether the whale continues to sell will be a crucial factor affecting price movements in the near future.

Conclusion

The story of this whale selling FET at a significant loss highlights the high risks associated with cryptocurrency trading. Investors should closely monitor large transactions and market trends to make well-informed investment decisions.