A prominent early investor in WIF, known by the alias “EvSTe” and associated with the “layercake.sol” wallet, has made headlines after transferring their entire holding of 3.63 million WIF tokens (valued at $5.55 million) to another wallet, “HkkEY,” in the past 11 hours.
This significant move marks the end of a highly profitable journey for the whale.
A Strategic Sell-Off
Out of the 3.63 million WIF transferred, 3.421 million tokens were sold for $5.3 million USDC at an average price of $1.549. The whale, who initially purchased 3.58 million WIF for just $21,000 on December 9, 2023, is now down to a balance of 198,399 WIF tokens worth $311,000. The remaining tokens are also being sold, marking the final stages of this investor’s exit strategy.
Massive ROI in Just 13 Months
The whale’s early investment has paid off handsomely, with a total estimated return of $4.61 million—an impressive 235% ROI in just 13 months. This remarkable profit highlights the potential of early-stage investments in crypto projects, especially for those willing to take calculated risks.
https://twitter.com/spotonchain/status/1877549187438620895?s=19
Market Reaction to Whale Activity
The significant sell-off has impacted WIF’s price, which has dropped by 7.23% in the past 24 hours. Such movements are common when large-scale investors exit their positions, leading to increased market volatility.
Looking Ahead for WIF
While this whale has capitalized on their early entry, the WIF community will now focus on stabilizing the market and attracting new investors. With the whale’s exit behind them, the project may see opportunities for broader distribution and renewed growth in the months to come.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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