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In the past 12 hours, a whale-level cryptocurrency wallet sold 4.64 million Virtuals Protocol (VIRTUAL) coins, achieving a profit of $5.32 million. According to data from Spot on Chain, the whale realized a net gain of $3.98 million (an increase of +224%). During this time, the price of VIRTUAL coin rose by 52%, and the whale’s wallet still holds 5.05 million VIRTUAL coins, corresponding to an unrealized profit of $4.99 million (an increase of +259%).
Whale’s Risky LUNA Exchange
On-chain data reveals that the whale purchased 17 million VIRTUAL coins at an average price of $0.382 at the end of October. However, shortly thereafter, a portion of these assets, amounting to 7.2 million coins, was exchanged for 18.46 million Terra (LUNA) coins.
This exchange has resulted in a loss of $1.15 million (a decrease of 39%) for the whale. Had the whale retained these VIRTUAL coins, the total profit could have reached $16.1 million.
This situation illustrates that while the whale has secured a strategic gain, it also highlights how certain decisions in the altcoin market can lead to costly outcomes.
Whale’s Remaining VIRTUAL Coins Hold Great Potential
On the other hand, the remaining 5.05 million VIRTUAL coins in the whale’s wallet are valued at approximately $9 million. Spot on Chain indicates that the whale could further increase profits by selling these assets.
However, the LUNA exchange seems to have limited the whale’s potential profitability. This situation once again underscores that market volatility presents both opportunities and risks for investors.
