Large Cryptocurrency Whale Continues Selling Spree
A large cryptocurrency whale, known by the short address 0x915, has been making waves in the market with its ongoing sales of Rollbit (RLB) altcoin assets. The whale’s most recent transaction saw the sale of 13 million RLBs for 2.275 million USDC at an average price of $0.175 per RLB. This significant sell-off occurred in just 1.5 hours, with the current RLB price trading at $0.1742.
Over the past two weeks, the whale has disposed of a total of 30.4 million RLB for 5.536 million USDC, at an average price of $0.182 per RLB. These RLB tokens were withdrawn from official Rollbit hot wallets. After the sales, the received USDC was promptly deposited to Kraken, a move that has caused a stir in the cryptocurrency community.
The continuous selling wave by the whale has had a significant impact on the price of RLB. The price fell as much as 6.3% and has seen a staggering 33% decrease in the last two weeks. Interestingly, the price tended to fall sharply after each sell wave of the whale. This trend has been visually represented in a chart taken by Spotonchain, showing the price falling every time the whale sells RLB.
At present, the whale no longer holds any RLB. However, there are concerns about whether Rollbit will withdraw more tokens to sell from hot wallets in the future. It is important to note that RLB is not listed on any major cryptocurrency exchange, yet it still manages to attract attention with a market value of $574 million.
It is crucial for investors to exercise caution and conduct thorough research before making any investment decisions, especially in volatile market conditions. This news serves as a reminder that the cryptocurrency market is subject to rapid and unpredictable changes, and it is always best to seek professional investment advice.
It remains to be seen how the market will react to the whale’s actions and whether Rollbit will take any measures to address the impact on RLB prices. As the cryptocurrency landscape continues to evolve, investors and industry experts will be closely monitoring the situation to gauge its implications for the broader market.
I have been a full-time professional writer for over 10 years, and have written for some of the biggest publications in the world. My work revolves around cryptocurrencies and blockchain technology, and I am widely considered to be one of the leading experts in these fields.I have written two books on the subject matter, and my articles have been featured in major news outlets such as The Wall Street Journal, Forbes, and Huffington Post. In addition to writing, I also give talks and seminars on cryptocurrency investing, and am a regular commentator on CNBC, Bloomberg, and other financial news networks.
