Home Business Binance Coin whale sells to BNB for $2.3 million after two years

Binance Coin whale sells to BNB for $2.3 million after two years

Whale wakes up and sends $60 million worth of Bitcoin after 9 years

A major BNB token holder has woken up after two years and dumped a fair share of its holdings on the market. With the sale, which earned him $ 2.3 million, the whale in question made a decent profit. The investor in question is also sending a signal that confidence in certain projects is starting to decline a bit.

It is often a bad sign when big investors decide to sell their stacks in certain currencies.

10,000 BNB tokens

It is a total sale order of 10,000 BNB tokens, which had a value of approximately USD 230 at the time of the sale. All in all, that gave the whale an amount of about $ 2.3 million.

Although it is a sizeable sell order, the whale in question still has 15,000 tokens in his wallet worth about $3.5 million.

The whale’s adventure began two years ago with a purchase of 10 BNB, which was worth about $2,400 at the time.

He exchanged those coins for Safemoon, where the whale made a profit of more than 47 million dollars (110,000 BNB). He eventually had 25,000 BNB left in the wallet, of which 10,000 have now been sold.

Important moment for Binance

You have undoubtedly noticed that Binance is currently going through a difficult period. The American branch of the exchange platform has been sued by the Securities and Exchange Commission (SEC), which means that the whale wants to take some risk off the table.

There is a chance that Binance’s token will come under further pressure from the lawsuit and the whale now seems to be on the safe side, at least with some of its assets.

As a result of the lawsuit against the exchange platform, liquidity has fallen sharply. Many investors withdrew significant capital from the stock market fearing an FTX-like scenario. For the time being that seems to be staying out, but it doesn’t look really good at the moment either.

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