The post Fantom Foundation Sold This Altconi Listed on Binance at an 87 Percent Loss! There was a decrease in price! appeared on BitcoinEthereumNews.com.

Fantom Foundation, one of the important corporate names in the cryptocurrency industry, came to the fore today with the sale of altcoins. According to Spot on Chain’s post, a wallet affiliated with the Fantom Foundation sold 357,108 CVX for 1.15 million USDT today. This sell-off caused the CVX price to drop approximately 5%. Reminding that this wallet affiliated with the Fantom Foundation spent $12 million to purchase 436K CVX at approximately $28 in March 2022, Spot on Chain stated that the Fantom Foundation lost $10.7 million, corresponding to approximately 87.8%, from its CVX investment. he stated. “A wallet affiliated with the Fantom Foundation sold 357,108 CVX for 1.15 million USDT in the last hours, causing the price to drop ~5%. Remarkably, this wallet spent $12 million to buy 436K CVX at $28 in March 2022 and then sold the tokens at just $3.38 (worth $1.49 million) over the last 2 years. This means a loss of $10.7 million (-87.8%)!” CVX price, which fell after the sale of the Fantom Foundation, has made a small recovery and is trading at $3.16 at the time of writing. A wallet linked to Fantom Foundation sold 357,108 $CVX for 1.15M $USDT in the past hour, causing the price to drop ~5%. Notably, this wallet spent $12M to buy 436K $CVX at ~$28 in Mar 2022 and then sold the tokens over the past 2 years at only ~$3.38 ($1.49M). That is a loss of… pic.twitter.com/DjX6Moavny — Spot On Chain (@spotonchain) June 28, 2024 *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/fantom-foundation-sold-this-altconi-listed-on-binance-at-an-87-percent-loss-there-was-a-decrease-in-price/

---

Filed under: News - @ June 29, 2024 2:20 am