Recent whale trading activities surrounding Livepeer (LPT) tokens have attracted significant market attention.
Livepeer, a decentralized live video streaming network protocol, had enjoyed a blistering 140% rally, going as high as $20 over the past week.
Crypto Whales Profit Trading LPT
SpotOnchain, a leading blockchain analytics firm, disclosed a significant move in the crypto markets involving a crypto . This investor gained attention by depositing 114,637 LPT tokens, valued at $2.2 million, into exchanges,
SpotOnChain’s analysis reveals that the whale initially acquired the 114,637 LPT tokens from Coinbase. These were purchased at an average price of $5.46 between April and August 2023. Demonstrating a long-term mentality, the investor held onto these tokens until their value soared to $19.03, marking an impressive 249% increase.
Consequently, the assets, originally procured for $625,781, appreciated significantly to reach $2.2 million at the time of sale, netting the trader a profit of $1.56 million.
Another whale, identified by LookOnChain, saw a significant $3.5 million profit trading LPT. According to LookOnChain, this crypto whale deposited 100,000 LPT to the MEXC exchange and withdrew 65,000 LPT, possibly selling 35,000 tokens.
“The whale currently holds 212,371 LPT, valued at $3.93 million, and the total profit on LPT exceeds $3.5 million,” Lookonchain
What Is Next For Livepeer Prices?
The crypto whales’ transactions have notably impacted the price of LPT token, causing a decrease of 11% over the past 24 hours to $17.73.
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