"Why sell it? Does the whale think this crypto is no longer potent?"
Whale, which has been inactive for two years, reportedly suddenly sold 10,000 of Binance Coin (BNB) cryptocurrency while its price was in the range of $230 per token.
It is well known that the holder of the wallet is a SAFEMOON whale, where it has converted about 10 BNB to 100 trillion SAFEMOON to generate a profit of about $47.5 million at that time.
The wallet holder then transferred more than 25,000 BNB to whale ”0x9e64″ in June 2021, therefore he still holds 25,000 BNB while the whale ”0x9e64″ has a remaining 15,000 BNB worth $3.5 million.
In context, SAFEMOON has been accused of being a pump-and-dump scheme following many of its holders suffering losses as its price plummeted, with the memecoin currently down 99% from its May 2021 all-time high.
Although some analysts see investing in memecoin as pure luck, most are convinced that such a digital asset can generate handsome profits if bought at the right time.
Through observation, the price of BNB is still experiencing selling pressure following the Securities and Exchange Commission (SEC) of the United States (US) is increasingly acting aggressively against the cryptocurrency market when it imposes a lawsuit against Binance and Coinbase.
As of this writing, BNB price has surged by 3.19% to $233.67 in the last 24 hours with a market cap of $36 billion but is still down 15.46% over the past week.
