A significant $GRT address, which opened a position around eight months ago, appears to have recently liquidated 22.22 million GRT tokens, potentially incurring a loss of $6.52 million.
The assets held by this address have reportedly diminished by 68% over this period.
The story began on March 11, 2024, when this address withdrew 22.22 million GRT tokens from Coinbase, valued at around $0.43 per token. Since that time, the address has not conducted any transactions or sales—holding these assets in stasis for nearly eight months. However, just three hours ago, the address transferred the entire sum back to an exchange, where GRT’s current price hovers around $0.1369.
In parallel with this movement, October marked a standout period for the Graph Protocol’s query fees. The protocol accumulated over 423,000 in query fees, supporting more than 10,000 active subgraphs across the network.
The market’s latest activity and the October data highlight the evolving dynamics and challenges within the Graph Protocol ecosystem, as investor actions and protocol growth converge.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.