Crypto Market Plunges as Whales Dump Lido Aave Uniswap and Frax Share Prices in the Red

Summary of the Story
A large crypto whale sold off LDO, AAVE, UNI, and FXS, leading to a significant impact on the market. The prices of LDO dropped by 12.4%, FXS by 8.24%, AAVE by 2.5%, and UNI by 2%. Overall, the whale made $2.87 million, with profits from ETH offsetting losses from LDO and AAVE.

Bitcoin’s Attempt to Recover
Bitcoin has been trying to recover since last week, dipping to $58,562. It came close to reaching $63,976 on July 1 but faced increased selling pressure and continued selling by the German government, causing it to drop to $60,490, a 3.6% decrease.

Significant Sell-Off by Crypto Whale
On Wednesday, a well-known crypto whale or institutional investor sold millions of dollars worth of LDO, AAVE, UNI, and FXS at a loss, resulting in a considerable decline in their prices. The whale sold 3.13 million LDO tokens worth $5.77 million, 49,771 AAVE tokens worth $4.54 million, 269,177 UNI tokens worth $2.41 million, and 250,969 FXS tokens worth $708,000.

Impact of the Sales
These sales led to a noticeable drop in the prices of LDO, AAVE, UNI, and FXS. However, despite the significant sell-off, the whale still holds 3.33 million LDO tokens worth $5.83 million and 31,191 AAVE tokens worth $2.8 million, having spent over $73 million to purchase Ethereum (ETH) and tokens within the Ethereum ecosystem.

Profit and Loss Analysis
Despite the losses from the recent sales, the whale’s overall trading activities have resulted in a total profit of $2.87 million. The breakdown of these figures shows a profit of $7.29 million on ETH, with losses of $3.23 million on LDO and $1.1 million on AAVE.

Impact on Crypto Prices
Following the sell-off, the price of Lido coin experienced a significant 12.4% decrease, trading at $1.77. Additionally, the price of FXS tokens saw an 8.24% drop to $2.65, Aave coin dropped by 2.5% to $27.60, and UNI token fell by 2% to $8.82 over the last 24 hours.

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Altcoins