The whales that recently opened a position 50 times longer at Ethereum (ETH) were known to have been intentionally settled, but this time they seem to have set their sights on a chain link (link).
According to data, whale wallets have sold 18.36 million links worth $1.34 million in the last two hours, resulting in a total loss of $512,000 (2.7%). Chain data reveals that the average link price for sales is $13.7.
Additionally, the data shows that the whale also closed a longer position on the GMX link, with the platform making the whale profiting $195,000. On high lipid platforms, cryptocurrency whales, linked whales close their long positions and convert them into Bitcoin short positions with 40x leverage, and at the time of writing, they have an unrealized profit of $290,000.
This behavior with whale wallets comes after the tokens of the main chain links entered the market and the price of BTC rose by 4%.
*This is not investment advice.
