Giant Chinese Cryptocurrency Company Sells 7 Altcoins During the Decline – Faces Big Losses

According to tracking data provided by Lookonchain, Chinese cryptocurrency firm Fenbushi Capital has sold $5.14 million worth of altcoins in the past three hours, shedding significant holdings across multiple tokens.

Chinese Company Suffers Significant Loss in Altcoins

Among the items sold are:

• 136,094 EIGEN (approximately $514,000)
• 146,537 UNI (approximately $1.13 million)
• 10.17 million SNT (approximately $244,000)
• 10,681 COMP (approximately $509,000)
• 11,616 AAVE (approximately $1.9 million)
• 344,086 SUSHI (approximately $276,000)
• 219 ETH (about $576,000)

In addition to the volume of assets sold, Fenbushi Capital reportedly suffered significant losses on several major tokens. The firm lost $2.44 million (-90%) on SUSHI, $2.27 million (-82%) on COMP, $1.53 million (-42%) on UNI, and $499,000 (-15%) on AAVE.

Meanwhile, another big whale sold 22,480 ETH (worth around $59.08 million) in the last two days. The whale initially withdrew 24,000 ETH (worth $63.07 million) from Lido and then deposited 22,480 ETH to Coinbase via multiple addresses.

The whale currently holds 7,000 ETH worth $18.37 million, suggesting additional market movements are possible.

*This is not investment advice.

Source