Over the past 90 minutes, two addresses linked to the same $ai16z whale offloaded $4.988 million worth of tokens, causing the token’s price to plunge by over 15%, falling from $2.2882 to $1.9388.
This major sell-off demonstrates the market-shaking impact of whale activity on token prices.
Address 3DKfZ…RqkKC Secures Massive Returns
One of the whale’s wallets, 3DKfZ…RqkKC, opened its $ai16z position a month ago at an average cost of $0.1626 per token, investing a modest $446,000. Riding the wave of $ai16z’s price surge, the wallet exited its entire position this morning, securing a profit of $4.46 million. This marks a return of 938%—a testament to the whale’s impeccable timing.
A $4.77 Million Cash-Out by a Second Wallet
Another wallet linked to the same whale sold 2.27 million $ai16z tokens just four hours ago at a price of $2.10 per token. This transaction brought in $4.77 million, delivering an extraordinary profit of $4.47 million—an impressive 1008% return on their investment.
Market Impact and Observations
The combined actions of these wallets created a domino effect, leading to significant downward pressure on $ai16z’s price. While these trades highlight the potential for extraordinary gains, they also serve as a reminder of the risks posed by concentrated holdings in the hands of a few major players.
Conclusion
This latest activity underscores the influence whales wield in cryptocurrency markets. With profits nearing $9 million from these trades, it’s clear that strategic timing and market dominance can yield life-changing returns—even as they leave ripples across the broader market.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.