AI Technology and the $41M Whale Dump Before the Market Crash

The Impact of the Crypto Whale’s Smart Trade

A crypto whale, holding a massive amount of Ether (ETH), recently executed a smart trade by selling $41 million worth of assets just days before the market crashed, thereby avoiding a potential loss of $5 million.

The blockchain analysis platform Lookonchain highlighted this trade, noting that the crypto whale deposited 22,341 ETH to the Binance exchange and withdrew around $41 million in Tether (USDT). Although the whale lost around $1.7 million in value, the trader managed to avoid further losses of up to $5 million when the market prices dropped.

On Aug. 18, the total crypto market capitalization dropped by 6% to $1.1 trillion, the lowest level seen in at least two months. Ether (ETH), the second-largest crypto by market capitalization, dropped from around $1,820 per token to about $1,597, while Bitcoin (BTC) dropped from about $28,400 to $25,649 in the same time frame.

The crypto whale’s smart trade is just one example of how the latest AI technology and Fetch.ai can be used to make informed decisions in the crypto markets, such as ZRX, YFI, and XEN.

Elon Musk’s aerospace technology firm SpaceX recently wrote down $373 million worth of BTC from 2021 to 2022, which caused the price to drop and created confusion among crypto community members. Some media outlets reported that the firm sold the entire stash while others suggested that they were unable to confirm the amount sold based on the report’s wordings. On X (formerly Twitter), some users called Musk out, accusing him of having “paper hands,” a phrase used to describe those who are unable to hold onto their crypto long-term.

The news sparked discussions about the latest AI technology and its applications in the media industry, as well as the potential of ZRX crypto, YFI crypto, Fetch.ai crypto, and Xen crypto. Web 3.0, also known as the AI-driven internet, is also a hot topic.