Giant Whale Sells All Altcoins at Loss Triggered by Market Crash

A significant cryptocurrency whale, identified with a short address 0x448, recently liquidated its entire Lybra Finance (LBR) holdings due to a triggered stop-loss function amid a market downturn.

Stop Loss Sparks Quick Sale

In a rapid six-minute transaction spree involving four separate trades, the whale successfully sold all 213,695 LBR tokens, securing 86.45 ETH, equivalent to around $201,000 at an average token price of $0.939. The current LBR price stands at $0.9228.

Rapid Disposal of Acquired Tokens

The whale had initially acquired these LBR tokens on November 19, 2023, and December 27, 2023, investing a total of 125 ETH at an average price of $1,215 per token. However, recent market conditions forced a swift disposal, resulting in a negative Return on Investment (ROI) of -28.2%. In just two months, the trader faced a loss of 38.5 ETH, approximately $85,300.

Market Downturn Triggers Stop Loss Mechanism

The decision to sell coincided with a 12% drop in LBR's value within the last 24 hours, attributed to a broader market crash. This substantial depreciation likely activated the trader's pre-set 'stop loss' mechanism, designed to curb further losses. The outcome was the complete liquidation of LBR holdings.

Whale No Longer Holds LBR Tokens

Following the sale, the whale has divested entirely from LBR tokens, marking a strategic move to mitigate losses in the face of market volatility.