A seasoned cryptocurrency whale, active since 2017, has made a significant move in the Binance Coin (BNB) market after an 11-month hiatus.

On September 17, 2023, this OG address withdrew 26,150.997 BNB from Binance at an average price of $216 per token. This strategic purchase has since yielded a substantial profit of $7.61 million, reflecting a remarkable return rate of 134%.

In a surprising turn, just two hours ago, the whale added another 6,301 BNB to their holdings, investing approximately $3.17 million at a cost of $504 per token. This brings the whale’s total BNB holdings to $15.37 million, with the average acquisition cost now increased to $272 per token.

Some Whale Redeems Their Staked BNB

However, not all whales are following the same playbook in this volatile market. The unpredictability of the crypto market, where each decision can lead to significant gains or losses, highlights the high-stakes nature of trading. This dynamic is part of what makes cryptocurrency trading so compelling, as traders must always back their own judgments, regardless of market conditions.

In a contrasting move, another whale, identified by the address 0xfC4…e8b66, took a different path just an hour ago. This whale redeemed all 8,001 BNB that had been staked in ListaDAO since July 2023, valued at around $4.05 million. The redeemed BNB was then transferred back to Binance.

If this whale chooses to sell at the current market price of $505, they would face a loss of $450,000, having originally entered the position at $562 per token. This move underscores the varied strategies employed by whales, each making decisions based on their own market outlook and risk tolerance. As always, in the world of crypto trading, each trader must navigate the market with their own judgment, bearing the full weight of the outcomes.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: archnoi1/123RF // Image Effects by Colorcinch