🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Sold the Altcoin that would Unlock a 2 Billion Dollar Loss: Had Bought it 1 Month Ago! - Coin Bulletin
The cryptocurrency investor has decided to sell the altcoin, which is expected to unlock more than 2 billion dollars tomorrow, at a significant loss.
According to the data of the blockchain analysis platform Lookonchain, a major Ondo Finance (ONDO) whale sold all 10,978 million ONDO for 13.58 million USDC on January 17. With this transaction, the whale incurred a loss of 3.54 million dollars (-20.7%) in just 38 days.
Ondo Finance is expected to unlock 1.9 billion ONDO worth 2.2 billion dollars on January 18th.
This move has sparked debates among investors, whether it is a 'weak hand selling' or an 'intelligent stop-loss strategy'. The whale's move is considered a decision that questions its approach to market dynamics and risk management strategy.
Crypto investors are closely monitoring how such large sales will affect the market.
According to CoinGecko data, ONDO, which has fallen by 40% in the last 24 hours, is currently trading at $1.25.