A significant move in the cryptocurrency market has been reported as a smart money address, known as “ox3c9,” realized over $14 million in profit by selling Wrapped Bitcoin (WBTC). On-chain data from Arkham Intelligence reveals that this savvy investor liquidated their WBTC holdings, amassed over the past 10 months, with impressive financial results.
The address began accumulating WBTC from Binance in October 2023, eventually amassing a total of 618 tokens. As Bitcoin's price reached an all-time high in March this year, the address strategically started reducing its position. By selling tokens worth $38.89 million, the smart whale earned a substantial profit of $14.26 million.
This profitable liquidation underscores the strategic acumen of the investor, capitalizing on market highs to secure significant gains. Such moves highlight the potential for well-timed trades to generate substantial returns in the volatile world of cryptocurrencies.
August 2024, Cryptoniteuae