A recent report from blockchain analytics firm Spot On Chain reveals that a major cryptocurrency investor (whale) holding a significant amount of PEPE tokens has incurred substantial losses.
This investor deposited 519 billion PEPE tokens, valued at approximately $5.11 million, into Binance. The reasons for the sale remain unclear, but the data indicates that the investor suffered a loss of around $207,000, representing a 3.9% decline from their initial investment.
What a sad story!
2 hours ago, a whale deposited 519B $PEPE ($5.11 million) to #Binance at an est. loss of $207K (-3.9%). The whale accumulated these $PEPE tokens before the ATH in late May and could have made a $3.47M profit had it unloaded during the pump! Besides losing in PEPE,…
— On-Chain Spot (@spotonchain) July 7, 2024
The PEPE tokens were purchased before the cryptocurrency reached its all-time high in late May. If the investor had sold at the peak, they could have realized a potential profit of $3.47 million.
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Further analysis by Spot On Chain indicates that the investor might be facing additional financial challenges, with unrealized losses amounting to $6.68 million from other held cryptocurrencies, including AAVE and YFI.
