JUP Whale Deposits 7.7M Tokens to FalconX, Nets $121.5K in Market Downturn

A significant development in the cryptocurrency market has emerged, with a prominent JUP whale depositing 7.7 million JUP tokens to FalconX approximately 11 hours ago. This transaction resulted in a net gain of $121.5k for the whale, indicating a strategic move during a market downturn.

The whale, identified as 34bHt...kJVJir, had previously accumulated 13 million tokens between January 17th and January 24th at an average price of $0.8541, totaling approximately $11.37 million. Despite a brief spike in JUP's price to $1.25, the whale chose not to sell. However, during the recent downturn, the whale deposited 7.7 million tokens to FalconX at a price of $1.012 per token, potentially realizing a profit of $1.215 million if sold.

As of now, the whale still holds 5.6 million tokens, with an unrealized profit of $2.01 million. This strategic move by the JUP whale demonstrates a keen understanding of market dynamics and a willingness to capitalize on opportunities during market fluctuations.