TechFlow news, on November 28, according to on-chain analyst烬's monitoring, in early June, a whale or institution accumulated 302,000 GMX tokens (worth $13.47 million) at an average price of $45 through six addresses, pushing the GMX price up by 12% at that time.
Six hours ago, four of these whale/institution addresses transferred a total of 267,000 GMX tokens (worth $8.5 million) into Binance for selling, driving the GMX price down from $33 to $28, a drop of 14%.
Purchased at $45 per token in June and now sold at around $30, this whale/institution has incurred a loss of $4 million on GMX.
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