According to data from cryptocurrency onchain analysis firm Onchain Lens, a cryptocurrency whale transferred a large amount of altcoins to exchanges.
The data revealed that the crypto whale in question transferred 427.79 million Pudgy Penguins (PENGU ($0.01)) tokens worth $2.48 million to Binance and OKX, losing $2.55 million in the process. In other words, this crypto whale lost more than 50% of his PENGU investment.
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This whale withdrew 441.83 million PENGU tokens from Binance, OKX, and Bybit approximately two months ago. Since then, he has only deposited 14.03 million PENGU, or $183,000 worth of tokens, into Binance.
Onchain data shows that the crypto whale that made these transactions currently has around $1,500 in assets in his wallet. On the other hand, another large crypto wallet that funds this wallet (probably the same whale) has a portfolio worth $8 million. According to the data, a significant portion of this whale’s assets are in the Jupiter (JUP ($0.43)) token.
*This is not investment advice.
Continue Reading: Unlucky Whale Gave Up On This Altcoin: Sold It All at Fifty Percent Loss
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