Ethereum

Aave

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<p>The post <a href="https://coinpedia.org/news/whale-sell-off-crashes-crypto-market-ldo-aave-uni-fxs-trading-in-red/">Whale Sell-Off Crashes Crypto Market: LDO, AAVE, UNI &amp; FXS Trading in Red</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Since last week, Bitcoin has been trying to recover after dipping to $58,562. Although it nearly reached $63,976 on July 1, increased selling pressure and continued selling of Bitcoin by the German government forced its price <a href="https://coinpedia.org/news/why-is-bitcoin-price-down-today-came-back-to-60700/" target="_blank" rel="noreferrer noopener">back down to $60,490</a>, reflecting a 3.6% drop.</p> 
<p>On Wednesday, a prominent crypto whale or institutional investor sold millions of dollars worth of LDO, AAVE, UNI, and FXS at a loss, causing a significant decline in the prices of these major tokens.</p> 
<h2 class="wp-block-heading" id="h-major-sell-off-causes-price-drops">Major Sell-Off Causes Price Drops</h2> 
<p>According to a report by the leading blockchain analytical platform Lookonchain, a major whale or institution sold 3.13 million LDO tokens worth $5.77 million, 49,771 AAVE tokens worth $4.54 million, 269,177 UNI tokens worth $2.41 million, and 250,969 FXS tokens worth $708,000.&nbsp;</p> 
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   <p lang="en" dir="ltr">Today this whale/institution sold 3.13M <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a>($5.77M), 49,771 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>(4.54M), 269,177 <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($2.41M) and 250,969 <a href="https://twitter.com/search?q=%24FXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FXS</a>($708K) at a loss.<br><br>This caused the prices of <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a>, <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>, and <a href="https://twitter.com/search?q=%24FXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FXS</a> to drop.<br><br>This whale spent more than $73M to buy <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ecosystem tokens after the… <a href="https://t.co/am8PG1pozE">pic.twitter.com/am8PG1pozE</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1808417502990590044?ref_src=twsrc%5Etfw">July 3, 2024</a>
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<p>However, these sales were made at a loss, and as a result, the prices of these tokens saw a noticeable decline.</p> 
<p>Meanwhile, this whale had spent over $73 million to buy Ethereum (ETH) and various tokens within the <a href="https://coinpedia.org/news/is-altcoin-season-on-the-horizon-heres-what-analyst-weighs-in/" target="_blank" rel="noreferrer noopener">Ethereum ecosystem</a> after the SEC approved form 19b-4 for an ETH ETF at the end of May. Despite today’s significant sell-off, the whale still holds 3.33 million LDO tokens worth $5.83 million and 31,191 AAVE tokens worth $2.8 million.</p> 
<h2 class="wp-block-heading" id="h-profit-and-loss-analysis">Profit and Loss Analysis</h2> 
<p>Despite the losses from the recent sales, the whale’s overall trading activities have made a total profit of $2.87 million. The breakdown of these figures shows a profit of $7.29 million on ETH. In contrast, there were losses of $3.23 million on LDO and $1.1 million on AAVE.</p> 
<h2 class="wp-block-heading" id="h-impact-on-the-crypto-price">Impact on the Crypto Price</h2> 
<p>As of now, the price of the Lido coin has <a href="https://markets.coinpedia.org/lido-dao/" target="_blank" rel="noreferrer noopener">seen a massive 12.4% drop</a> &amp; trading at $1.77. Along with this, the price of FXS tokens even saw a dip to $2.65 refelting a drop of 8.24%.&nbsp;</p> 
<p>Meanwhile, the Aave coin has seen a drop of 2.5% &amp; currently hovering at $27.60 and the UNI token is <a href="https://markets.coinpedia.org/uniswap/" target="_blank" rel="noreferrer noopener">trading at $8.82</a>, reflecting a drop of 2% seen in the last 24 hours.&nbsp;</p> 
<p>Read Also: <a href="https://coinpedia.org/news/santiment-reveals-top-three-altcoins-to-buy-in-the-midterm/" target="_blank" rel="noreferrer noopener">Santiment Reveals Top Three Altcoins to Buy in the Midterm</a></p>

Whale Sell-Off Crashes Crypto Market: LDO, AAVE, UNI & FXS Trading in Red

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