A big crypto whale woke up from a 281-day dormancy by unstaking 8.67 million OM within the past twelve hours before transferring 7 million OM worth $43.45M to Binance. The whale withdrew 8.81 million OM from Binance on April 17, 2024, at an average price of $0.682 and staked the tokens. The token’s price rally following the extended staking period has delivered substantial gains to the whale’s original investment strategy.
Massive Gains as OM Surpasses $6.1
The whale currently controls 1.67 million OM tokens which have a current worth of roughly $10.2 million as the token trades above $6.1. The strategic investment generated a total profit estimated at $47.64 million through this investment representing a remarkable 793% return for the whale. The combination of well-designed staking methods coupled with long-term crypto market patience results in large profitability.
Breakdown of Key Transactions
Spot On Chain recorded large transactions performed by the whale during today’s operations.
- Outflow of 2M OM ($12.41M)
- Outflow of 1.5M OM ($9.26M)
- Outflow of 2.5M OM ($15.52M)
- Outflow of 1M OM ($6.24M)
Such big transfers demonstrate a step-by-step method of withdrawing funds which allows the whale to profit without causing abrupt market price fluctuations.
The whale timed its massive selling position after the market price of the token experienced a significant rise during recent months. The whale displays profound market knowledge by executing an exit plan which allows them to achieve profits without completely abandoning their tokens. The 1.67M tokens remaining in their wallet indicates the whale believes the project will increase in value shortly.
Conclusion
Strategic staking coupled with the perfect timing for market exits demonstrates cryptocurrency market success according to this significant action. The whale successfully extracted gains by waiting for the token to increase due to a well-timed entry, which verifies that both market insight and financial patience are key success factors.
