In a dramatic turn of events, a major crypto whale has moved 14.95 million BLUR tokens, valued at $2.18 million, to Binance at a significant loss.
This whale, once the top staker of BLUR, is suspected of liquidating their entire position within the last 40 minutes. If these tokens are sold, the loss is expected to exceed $3.5 million.
曾经 $BLUR 质押排名 Top1 的巨鲸疑似于过去 40 分钟清仓 1494 万枚 BLUR，若卖出将亏损超 350 万美金😵
十个月前该巨鲸从 #OKX 中以均价 $0.3824 提出 BLUR 并参与质押，直到今天才以 $0.1479 割肉离场，亏损近 61%…
钱包地址 https://t.co/7volxhPaGB pic.twitter.com/vvJLAyWHVx
— Ai 姨 (@ai_9684xtpa) September 2, 2024
The whale, identified by the address 0x154, had previously withdrawn the majority of their BLUR holdings from OKX on November 22, 2023.
At that time, the average price of BLUR was $0.383, translating to a total value of $5.72 million. The withdrawal came during the height of the Blur and Blast airdrop hype, with the whale initially staking their tokens to maximize potential gains.
Whales’ BLUR Holding And Price Action To Monitor
However, the strategy took a turn for the worse. The whale unstaked their BLUR tokens two months ago when the price had dropped to $0.209 but decided not to sell at that time.
Instead, they held onto the tokens, only to offload them now at a significantly lower price of $0.148. If the sale goes through, the whale would realize a staggering loss of approximately $3.54 million, representing a 61.9% decline in value over a span of nine months.
A whale just deposited 14.95M $BLUR ($2.18M) to #Binance at a huge loss!
The whale withdrew most $BLUR from #OKX at ~$0.383 ($5.72M) during last November's #Blur and #Blast airdrop hype to stake the tokens. If truly selling now at $0.148, the whale would lose $3.54M (-61.9%).… https://t.co/7f9un6syaA pic.twitter.com/tUjyzP6NCw
— Spot On Chain (@spotonchain) September 2, 2024
This situation highlights the volatile nature of the crypto market and the risks involved in staking and holding large amounts of tokens. The whale’s decision to delay the sale has led to a substantial financial hit, serving as a cautionary tale for others navigating the unpredictable waters of cryptocurrency trading.
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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Image Source: peshkov/123RF // Image Effects by Colorcinch
