Major Crypto Investor Faces Significant Losses After Recent Sell-Off

Recent blockchain data has revealed that a prominent cryptocurrency investor, or "whale," has faced substantial losses with an altcoin investment.

Approximately two hours ago, the whale offloaded around 5 million VIRTUAL tokens from the Virtuals Protocol (VIRTUAL) for a total of $8.88 million, selling them at an average price of $1.76. This sale resulted in a loss of $5.2 million, reflecting a 36% decline from the whale’s original investment.

The whale had initially acquired the VIRTUAL tokens between January 19 and January 27, during a price dip in the altcoin, spending a total of $13.91 million.

However, the value of the asset continued to drop, prompting the investor to take action by selling off the entire holding and setting a stop loss to mitigate further damage.

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At the time of writing, the VIRTUAL token is priced at $1.74, having suffered a 32% decline over the past week. While it is not listed on Binance, the token can still be traded on platforms like Bybit and Upbit.

Alexander Zdravkov