SOPH drops more than 62% from its peak as whale 0xc069 starts selling 100 million tokens

News Editor

2026-09-09 02:47:28

SOPH fell sharply after yesterday’s rally, sliding to a low of $0.005145 this morning from a high of $0.013637 the day before, a drawdown of about 62.27%, according to TradingBeats. The move reversed the fortunes of a whale address starting with 0xc069, which had bought near the local bottom and at one point was sitting on an unrealized profit of roughly $740,700. TradingBeats data shows SOPH touched $0.004645 at 01:48 yesterday. Seventeen minutes later, the address began buying, with its first fill at $0.004736, less than 2% above the low. The whale then added twice during the climb, expanding the long position to 157.92 million SOPH with a cumulative entry value of about $1.0421 million and an average cost of roughly $0.006599. SOPH later jumped to $0.011467 at 13:30, up about 147% from the overnight low, and by 13:33 the address was showing about $740,700 in unrealized gains. The rally then gave way to heavy volatility. From 13:35, SOPH dropped from $0.011304 to $0.00936 in five minutes, a 17.20% slide, followed by another five-minute decline of 12.52%. At 08:57 today, the whale started a 12-hour TWAP to sell 100 million SOPH. As of publication, it had sold about 13.6017 million tokens for a realized loss of around $16,400, while the remaining 144.31 million-token long was worth about $769,900, with an unrealized loss of about $182,400.

BlockBeats reported on Sept. 9 that, according to TradingBeats monitoring, SOPH plunged after a sharp rally yesterday and fell to a low of $0.005145 this morning, down about 62.27% from yesterday’s high of $0.013637.

Whale 0xc069 swung from profit to loss

A whale address beginning with 0xc069, which had previously bought almost at the exact low and at one point posted an unrealized profit of $740,700, was pushed from profit into loss during the sell-off. The address began a plan this morning to cut 100 million SOPH.

At 01:48 yesterday, SOPH touched a low of $0.004645. Just 17 minutes later, the address started buying, with its first fill at $0.004736, less than 2% above the low. It then added to the position in two concentrated rounds during the rally, eventually expanding the long to 157.92 million SOPH. The cumulative entry value reached about $1.0421 million, with an average entry cost of roughly $0.006599.

Position once showed a $740,700 paper profit

SOPH then climbed quickly and reached $0.011467 at 13:30 yesterday, up about 147% from the overnight low. By 13:33, the address was showing an unrealized profit of around $740,700.

The advance soon turned into violent volatility. Starting at 13:35 yesterday, SOPH dropped from $0.011304 to $0.00936 within five minutes, a 17.20% decline in a single five-minute interval. Another five-minute drop of 12.52% followed, and the token kept falling until it hit this morning’s low of $0.005145. The address did not close its original long position during that stretch.

12-hour TWAP launched to sell 100 million SOPH

At 08:57 today, the address started a 12-hour time-weighted average price, or TWAP, order to sell 100 million SOPH in batches. The first closing trade was executed at just $0.00525, already below the average position cost of $0.006599.

As of publication, the address had sold about 13.6017 million SOPH, locking in a trading loss of around $16,400. Its remaining long position of about 144.31 million SOPH was valued at roughly $769,900, with an unrealized loss of about $182,400.

Earlier coverage said capital rushing into a “closing-session trade” had sent SOPH up 146%, while a newly exposed mysterious address had built a large position early and booked substantial gains.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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