A Big Whale Held an Altcoin It Bought During the 2021 Bull Run for 5 Years, and Sold It Today at a Huge Loss!

According to on-chain data, a large Chainlink (LINK) investor sold their shares today at a significant loss after making purchases during the 2021 bull market.

According to the shared data, the address in question purchased a total of 253,000 LINK tokens for approximately $5.58 million during the 2021 bull market. These purchases reportedly took place between August and December 2021, when the LINK price ranged from $18 to $33.

The same investor sent 215,000 LINK to the Bybit exchange this morning. This transfer was made for the purpose of selling, and it is estimated that the investor suffered a loss of approximately $3.5 million as a result of the transaction. Thus, the investor, after buying at levels near the market peak in 2021, held onto their assets throughout the bear market and finally sold at lower price levels.

At the time of writing, LINK is trading at $9.14.

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On-chain analysis views this transaction as an example of a classic investment cycle frequently seen in cryptocurrency markets: buying at the peak, holding long in a bear market, and capitulating at the dips.

According to the data, the address set in question contains a total of 6 different addresses, and these addresses currently hold approximately $2.08 million worth of Ethereum (ETH).

*This is not investment advice.

Continue Reading: A Big Whale Held an Altcoin It Bought During the 2021 Bull Run for 5 Years, and Sold It Today at a Huge Loss!