Large Cryptocurrency Whale Continues Massive RLB Sales, Impacting Market Prices
A large cryptocurrency whale, known by the short address 0x915, has been making waves in the market with its massive sales of Rollbit (RLB) altcoin assets. Over the past two weeks, the whale has been disposing of its RLB tokens, causing a significant impact on the market prices.
Recent Transactions and Impact on Market Prices
In its most recent transaction, the whale sold a staggering 13 million RLBs for 2.275 million USDC at an average price of $0.175 per RLB in just 1.5 hours. At the time of writing this article, RLB price is trading at $0.1742, reflecting the impact of the whale’s sales on the market.
Over the past two weeks, the whale has disposed of a total of 30.4 million RLB for 5.536 million USDC, at an average price of $0.182 per RLB. These RLB tokens were withdrawn from official Rollbit hot wallets. Following the sales, the received USDC was quickly deposited to Kraken, further affecting the market prices.
The continuous selling wave of the whale has caused a significant impact on the price of RLB, leading to a 6.3% decrease and an overall decline of approximately 33% in the last two weeks. Notably, the price tended to fall sharply after each sell wave of the whale, as depicted by a chart taken by Spotonchain showing the price falling every time the whale sells RLB.
Future Implications and Uncertainties
At this time, the whale no longer holds any RLB, leaving uncertainty as to whether Rollbit will withdraw more tokens to sell from hot wallets. It remains unclear whether the whale’s actions will continue to impact the market and if there will be further sales in the future.
RLB, which is not listed on any major cryptocurrency exchange, continues to attract attention with a market value of $574 million. However, with the uncertainty surrounding further sales and the impact on market prices, investors are advised to proceed with caution when considering RLB as an investment opportunity.
Disclaimer
It is important to note that the information provided is not intended as investment advice. The activities of the cryptocurrency whale and the impact on the market are presented for informational purposes only. Investors are advised to conduct thorough research and seek professional guidance before making any investment decisions.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
