A recent transaction on the Ethereum blockchain (ETH) has attracted a lot of attention from analysts and investors. What started as an apparently calm long -term position ended in one of the largest individual losses in recent months. Within just 30 minutes, an investment built up for many years was fully liquidated.
Get out with a million loss
Almost a year ago, the trader removed 1,160 Ethereum worth around $ 4.43 million from crypto-exchange OKX and placed it in a self-managed wallet-usually a sign of trust in the long term and the preference for own control over storage on a trade show. But on April 16, that trust turned abruptly.
In just 30 minutes, the full amount of ETH in three large transactions was sent back to OKX and sold there, at an average price of $ 1,580 per coin. The proceeds was around $ 1.83 million, which resulted in a loss of more than $ 2.6 million. Only a few dollars remains in the wallet.
Why the investor decided exactly to get rid of everything so suddenly is unclear. Perhaps it was the fear of a further decrease, or simply a strategic redistribution of power. What is certain is that the scale and pace of the sale show how vulnerable the market remains for quickly changing sentiment.
Ethereum weakly on the graphs
The sale took place while Ethereum is under pressure. With a race around $ 1,600, the market sentiment remains brittle. The currency is well under both the 50 and 200-day advancing average, which further undermines the trust of technically oriented investors.
Although the price for the past week showed a plus of 6.5%, the general picture in the medium term is predominantly negative. The chance of further relapse remains there.
The event is a powerful example of how volatile the cryptomarket can behave. Even long -term holders can turn completely in a short time, especially as technical signals and market feeling together.
Source: https://newsbit.nl/crypto-handelaar-verliest-miljoenen-in-30-minuten-met-handelen-in-deze-cryptomunt/
