Sometimes whales also buy from the top; One whale lost $2.35 million on the PERP token he bought at $1.08.
Blockchain data analysis platform Lookonchain shared that a whale made a significant loss in PERP token trading. Lookonchain, which shares blockchain records on the X platform, reported that the whale bought PERP with an average of $ 1.08 and lost $ 2.35 million.
PERP whale lost $2.35 million
According to blockchain data shared by Lookonchain, the purchase made by a whale turned out to be expensive. The whale has moved towards PERP, which has recently risen to the top in the crypto market. The whale, which purchased the PERP token at an average price of $1.08, spent $7.37 million.
A whale created a safe Multisig wallet 3 days ago and spent 4,509 $WETH ($7.37M) to buy 6.8M $PERP at an average price of $1.08.
Then dumped 6.8M $PERP for 276 $WETH ($446K) and 4.57M $USDT at an average price of $0.74.
The whale lost ~$2.35M on $PERP in 3 days. pic.twitter.com/DNCNvJCq7S
— Lookonchain (@lookonchain) September 11, 2023
Whale made a major acquisition and had a PERP of 6.8 million. The whale, which became one of the largest PERP wallets, encountered a huge decline and lost $ 2.35 million. Whale sold its 6.8 million PERP at $0.74.
The act of buying at the top and selling at the bottom, which usually happens to small investors, also happened to the million-dollar whale. Whale panicked and sold the PERP he bought at $1.08 when it dropped to $0.74.
The wallet, which made multiple transactions using the Multisig wallet, made purchases in a short time. Whale must not have found what he expected, so he left the project in a short time.
PERP rose 23 percent from the area where the whale bought. However, the whale did not make any sales despite this rise. In a short time, PERP was almost destroyed. PERP fell from a peak of $1.33 to a low of $0.67. The decline of PERP led to whale panic selling.
