Crypto Whales Sell Holdings, Suffering Losses Despite Recent Market Upswing

Two significant cryptocurrency whales have recently seen substantial losses as they offloaded their holdings. A prominent whale with the address 0xc9f unloaded all of his Avalanche (AVAX) worth $14.49 million to Coinbase today, resulting in a total loss of $12.2 million. This sale follows a period of market fluctuation, with AVAX currently trading around $19.90 after a significant drop from its peak price of $44 in January. Meanwhile, another whale, who had been holding Ethereum (ETH) for two years, sold off 8,922 ETH worth $14.8 million on the exchange Kraken. This sale comes despite the recent market upswing and a potential indicator of market uncertainty.