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- A dormant cryptocurrency whale realized a total loss of $2.58 million after liquidating their PUMP token holdings.
- The final stage of the liquidation involved depositing 1.42 billion tokens, valued at $4.43 million, into Binance.
- The investor originally spent $14.4 million to acquire 3.3 billion tokens but only recovered a total of $11.82 million.
Recent on-chain data has identified a significant transaction involving a cryptocurrency whale who reactivated a wallet after a two-month period of inactivity. The investor transferred a substantial amount of “PUMP” tokens to the Binance exchange, concluding a series of trades that resulted in a verified financial loss of over $2.5 million.
Transaction Breakdown and Wallet History
According to tracking data from Onchain Lens, the whale address GfcyaWC53yTgdWpRLEXSqU6gYvyGgdGvyj6dis65zewy deposited 1.42 billion PUMP tokens into a Binance exchange wallet. At the time of the transfer, the market value of these tokens was approximately $4.43 million.
This move follows a 60-day period of dormancy for the specific wallet. Historical ledger entries show that the investor originally acquired a much larger total of 3.3 billion PUMP tokens. The initial acquisition cost for this entire position was $14.4 million.
Final Financial Outcome
The investor’s exit strategy was executed in stages. Prior to the most recent deposit, the whale had already offloaded portions of their holdings. While the latest 1.42 billion tokens were worth $4.43 million, the total cumulative value recovered from all deposits—including the final transfer—amounted to $11.82 million.
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Comparing the total capital invested ($14.4 million) against the total value retrieved ($11.82 million) confirms a total loss of $2.58 million for the whale.
Current Market Context
The transaction occurred during a period of notable volatility for the asset. While the specific reasons for the whale’s decision to liquidate the remaining position at a loss remain unverified, the movement of tokens into a centralized exchange like Binance typically indicates an intent to sell or trade the assets for other currencies. The final deposit of 1.42 billion tokens represents the conclusion of the whale’s activity with this specific token supply.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
