Crypto whales have long been known to have a significant impact on the market, and recently, Lookonchain, a leading on-chain analytics provider, revealed an interesting development involving a whale. This whale withdrew a staggering 2,280 $SOL and 2.91 million $SLERF tokens from the popular crypto exchange, Gate.io. Lookonchain took to its official X account to share this information with the public.
According to Lookonchain, the whale made these withdrawals just seven hours ago. The value of the $SLERF tokens withdrawn by the whale amounts to an impressive $923K, while the $SOL tokens have a value of around $378K. Furthermore, Lookonchain noted that the whale didn’t just hold onto these tokens but also made some transactions using them.
In fact, Lookonchain pointed out that the whale spent approximately 2,281 $SOL tokens, equivalent to $378K, to purchase a substantial amount of $SLERF tokens. The whale bought a whopping 1.17 million $SLERF tokens, a move that has raised eyebrows within the crypto community.
This event has sparked various speculations among industry observers. Lookonchain reveals that the whale has been accumulating $SLERF tokens for quite some time now. Since April 25th, the whale has reportedly purchased a staggering 11.9 million $SLERF tokens, which have a total value of nearly $4.09 million. However, despite these significant purchases, the whale has experienced a loss of approximately $266K.
In summary, a crypto whale recently withdrew a substantial number of $SOL and $SLERF tokens from Gate.io, as disclosed by Lookonchain. The whale also made significant purchases of $SLERF tokens, accumulating a large number of them. However, despite these investments, the whale has suffered a significant loss in value.