Whale Suffers $8.4 Million Loss After Dumping Altcoins

A whale has sold off their altcoin holdings, losing a staggering $8.43 million as prices plunged.

Ethereum, Optimism, and Arbitrum Dumped

The whale sold off their positions in Ethereum (ETH), Optimism (OP), and Arbitrum (ARB), according to on-chain data from Lookonchain. The wallet addresses associated with the whale start with 0x12199 and 0xac218.

  • Ethereum: Sold 6,714 ETH ($19.5 million) at $2,903, losing $6.45 million.
  • Optimism: Sold 428,047 OP ($1.06 million) at $2.48, losing $902,000.
  • Arbitrum: Sold 901,685 ARB ($882 million) at $0.98, losing $1.08 million.

Smart Money Accumulating Altcoins

Meanwhile, Lookonchain also identified a “smart money” whale accumulating altcoins. This whale, with a wallet address starting with 0xd876, has purchased millions of dollars worth of Fantom (FTM), Maker (MKR), and Pepe (PEPE).

  • Fantom: Bought 3.18 million FTM ($2.26 million) on May 7th.
  • Maker: Bought 464 MKR ($1.25 million) on May 12th and 428 MKR ($1.22 million) on April 30th.
  • Pepe: Bought 70 billion PEPE ($558,000) on May 8th.