On-chain analyst Ember said a whale that withdrew 20,100 SPCXB from Binance in early July has now sent 20,100 SPCX back to the exchange after the token came under pressure. At the time of the withdrawal, SPCX was priced at $150. Ember said the token later fell 13% under pressure from earnings and an upcoming unlock.
The transfer took place early today, with the 20,100 SPCX valued at about $2.3 million when moved back to Binance. Based on the figures provided, the whale posted a loss of $720,000 over roughly one month, equal to a 24% decline. The move marks a full round-trip transfer of the same amount of tokens between Binance and the whale address during that period.
Odaily reported that, according to on-chain analyst Ember, a whale withdrew 20,100 SPCXB from Binance in early July, when SPCX was trading at $150.
Ember said SPCX later fell 13% under pressure from earnings and an upcoming token unlock. Early today, the whale transferred 20,100 SPCX back to Binance, with the position valued at about $2.3 million. Based on the disclosed figures, the whale lost $720,000 over one month, a loss rate of 24%.
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