Smart Money Address Makes $14 Million In Profit By Selling WBTC!

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Aug 17, 2024 16:19

A smart money address has made over $14 million in profit by selling Wrapped Bitcoin (WBTC). According to on-chain data from Arkham Intelligence, the smart whale address “ox3c9” liquidated its Wrapped Bitcoin holdings accumulated over the past 10 months, making a staggering $14.26 million profit. The address initially started bagging coins from Binance in October 2023, totaling his holdings to 618 tokens. Subsequently, as the BTC price touched an ATH in March this year, the whale started gradually reducing its position. By selling $38.89 million worth of tokens, the address made the abovementioned profit.