According to cryptocurrency onchain data, a huge cryptocurrency whale was forced to sell an altcoin from which he had previously made a large profit, at a loss, due to the recent developments in the market.
The whale in question had previously made a profit of $2.34 million in four different Uniswap (UNI) trades over the last nine months, and on his fifth trade, he was forced to close his trade with a loss of $569,000 due to a stop-loss order just hours ago.
The whale wallet bought 300,000 UNI tokens about a week ago at an average price of $16.97. At its peak, it made a profit of $603,000 on this position. However, the price started to fall immediately afterwards and eventually the whale sold at $15.07, making a total loss of 11.2%. Currently, the whale wallet’s net profit from five different transactions is measured at $1.77 million.
Yesterday, there was a major decline in the entire cryptocurrency market following the hawkish statements following the FED decision and the statement made by FED Chairman Jerome Powell signaling that the pace of interest rate cuts may slow down, and the Bitcoin price fell below $ 100,000.
*This is not investment advice.
