Two cryptocurrency traders capitulated and lost $2.61 million in a one-month trade with Fetch.ai (FET). Whales reportedly dumped $10 million worth of FET with millionaire realized losses, according to SpotOnChain’s recent reports.
First, ‘Whale 0xdf8′ sold all its 2.739 million FET for 2,095 of Ethereum (ETH), worth $6.66 million. The sales averaged $2.431 per token and marked “the end of the whale’s fifth FET trading cycle,” as reported.
The trader bought these 2.739 million FET on March 26 for a dollar-cost average of $3.031. Therefore, ‘Whale 0xdf8’ realized $1.64 million in losses with this one-month trade, diminishing its ETH stack by 20%.
Meanwhile, in the same period, ‘Whale 0x9eb’ capitulated for around $977,000 in its first FET trading cycle, wrote SpotOnChain. This second crypto trader bought 1.504 million FET for an estimated cost of $4.55 million. Later, selling all of it for $3.58 million worth of three Ethereum tokens from April 1 to April
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