$VIRTUAL Whale Buys 1.54M Tokens for $2.12M After 12% Price Drop

A large buy by a $VIRTUAL whale investor has recently been revealed and took place amid a downturn in the cryptocurrency market. Thus, based on the data of Spot On Chain, the investor bought 1.54 million $VIRTUAL tokens with 575 $ETH (approximately $2.12 million) for the Base blockchain. This was done when the token was on a 12% dip, and this may indicate the investor’s confidence in the value of the asset in the market.

A whale just spent 575 $ETH ($2.12M) to buy 1.54M #VIRTUAL on #Base in a single transaction after the price dropped ~12% today!

This marks the whale’s second $VIRTUAL trade. Three days ago, they made a smaller trade, earning $17K (+17%) in just one day.

Notably, $VIRTUAL soared… pic.twitter.com/WStv8aKouN

— Spot On Chain (@spotonchain) December 2, 2024

Strategic Move Amid Market Volatility

Before the latest trade, the same whale continued to trade the $VIRTUAL token, which shows its persistent preference. In a similar trade made only 3 days before this transaction, the same investor made at least $17,000 within 24 hours of trading at a 17% profit. The most recent purchase, for instance, suggests a more significant investment in the token, which may imply a strong belief that the token will either bounce back or grow.

The acquisition occurred after prices of $VIRTUAL, one of the leading AI tokens, rose by 137% in the previous week, contributing to the rising popularity of this token in the market. After this upward trend, fluctuations in the market seem to have allowed this whale to accumulate at a lower price level.

PnL Metrics Highlight Risk and Losses

According to the activity on the chain, although the recent transaction indicates confidence, the realized loss is still at $4,202 (3.54%). Unrealized losses add to the picture up to $23,963 (-1.12)%. Nevertheless, such shifts are often viewed as value moves by whales that use their purchasing influence to make themselves more profitable in the long run.

Broader Implications for $VIRTUAL

The relatively high fluctuations in the price and the trading volume indicate the increasing importance of $VIRTUAL within the digital currency space, and more specifically, as an AI-connected token. There is still the question of whether this whale’s investment is the start of the actual turning point of the token or if it is part of a speculative bet.Traders and analysts are still keenly watching $VIRTUAL stock, wondering if this is the beginning of recovery or if more fluctuations are in store. Blockchain enthusiasts can monitor this whale and other relevant transactions in real-time through Spot On Chain tracking.

Source