Prominent Whale Sells Huge Amount of Altcoins on Decentralized Exchange: Starts Accumulating Another

A whale known as Luggis.eth sold a significant amount of Illuvium (ILV), causing a noticeable drop in the price of the altcoin.

Whale sold 10,000 ILV, equivalent to $1.09 million, for 461.7 Ethereum (ETH) at a price of $108.61 per ILV. This sale caused a decline in ILV’s price of approximately 3%.

Over the past 24 hours, luggis.eth sold a total of 17,020 ILV for 782.4 ETH, worth $1.84 million, at an average price of $108.23 per ILV. Both sales led to sudden declines in the ILV price. At the time of writing this article, ILV price is trading at $108.03.

Despite these sales, luggis.eth still has a significant amount of ILV. The whale holds 381,356 ILV farmed at short address 0x2079c, valued at $40.7 million.

Interestingly, while luggis.eth is selling ILV, Maker (MKR) is accumulating. Over the last nine days, despite the losses incurred, the whale accumulated 1,752 MKR from Binance, worth $2.62 million, at an average price of $1,493 per MKR. MKR price is trading at $ 1,409 at the time of writing this article.

*This is not investment advice.

Source