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 An unknown whale has sold off their altcoin positions for a massive loss after prices dipped, according to on-chain data.
 First reported by blockchain tracking service Lookonchain, one whale capitulated their positions in Ethereum (ETH) and layer-2 altcoins Optimism (OP) and Arbitrum (ARB).
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 Lookonchain says the whale, with wallet addresses beginning with 0x12199 and 0xac218, suffered losses of $8.43 million.
 “So sad!
 This whale sold all ETH, OP, and ARB at a loss of ~$8.43 million.
 Sold 6,714 ETH ($19.5 million) at $2,903 and lost $6.45 million! Sold 428,047 OP ($1.06 million) at $2.48 and lost $902,000! Sold 901,685 ARB ($882 million) at $0.98 and lost $1.08 million!”
 At time of writing, ETH is trading for $2,888, while OP and ARB are worth $2.45 and $0.962, respectively.
 Lookonchain also spotted a “smart money” whale accumulating several altcoins.
 According to the firm, one wallet beginning with 0xd876 accumulated seven figures worth of the layer-one blockchain Fantom (FTM), decentralized finance (DeFi) project Maker (MKR) and memecoin Pepe (PEPE).
 “Which altcoins is the smart money buying?
 The smart money holds $23.3 million of assets and has previously made $1.67 million trading FTM.
 He bought MKR, FTM, and PEPE recently.
 FTM
 He spent 726 ETH ($2.26 million) to buy 3.18 million FTM on May 7th.
 He bought 3.39 million FTM ($1.13 million) at $0.33 on Jan 24th and sold 3.39 million FTM ($2.8 million) at $0.83 on Mar 19th, making ~$1.67 million on FTM before.
 MKR He spent $1.25 million to buy 464 MKR at $2,697 [on May 12th] and also spent 379 ETH ($1.22 million) to buy 428 MKR at $2,846 on Apr 30th.
 PEPE He spent $558,000 to buy 70 billion PEPE on May 8th.”
 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/whale-loses-over-8-430-000-after-capitulating-on-ethereum-and-two-additional-altcoins-on-chain-data-tbt88166.html">https://thebittimes.com/whale-loses-over-8-430-000-after-capitulating-on-ethereum-and-two-additional-altcoins-on-chain-data-tbt88166.html</a>

Whale Loses Over $8,430,000 After Capitulating on Ethereum and Two Additional Altcoins: On-Chain Data

TheBitTimes

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