A cryptocurrency whale, known by the address 0xa54, had made substantial profits trading PEPE tokens on Binance. However, on its second trade on the platform, it faced a significant loss, losing almost $1 million.
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Based on SpotOnChain data, the whale deposited the last 3 trillion PEPE tokens to Binance on August 2 and 5. These tokens were worth $3.5 million, and the average price per token was $0.000001194.
The whale made a deposit of tokens on July 23 and 24, with an average price of $0.000001409 per token.
Unfortunately, the price of PEPE has sharply dropped since then, reaching as low as $0.000001142 on August 5. If the whale were to sell all its tokens at the current market price, it would face a massive loss of $988,000.
Chart showing the whale’s level of moving and withdrawing tokens to Binance.
The whale’s initial trade on Binance, which occurred between June 27 and July 14, was quite successful. During this time, the whale bought and sold 3.9 trillion PEPE tokens, making a profit of $673,000, which is around 10.6% of its initial investment.
However, the situation changed in the second trade. The recent decline in PEPE’s price resulted in an estimated loss of $314,800 for the whale from the two trading cycles combined.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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