In a major on-chain move that has raised eyebrows across the crypto community, a whale investor has incurred a staggering $3.48 million loss after offloading 5.04 million VIRTUAL tokens in exchange for $2.27 million in USDC.
The sale, which occurred roughly 11 hours ago, was first flagged by blockchain analytics platform Onchain Lens via the X platform.
The transaction was executed from wallet address 0xa8f3be…1246, and it represents one of two wallets associated with the investor’s heavy losses in the VIRTUAL market.Â
The whale’s activity has sparked discussions around large-scale exits and poor timing amid volatile market conditions.
Total Loss Reaches $8.51M Across Two Wallets
Further investigation revealed that the same whale had previously executed similar trades through another address, 0x997f2…9005, bringing their total realized loss from trading VIRTUAL tokens to an astonishing $8.51 million.Â
These trades underscore the risks associated with speculative investments in emerging crypto protocols, especially during market downturns.
While the exact motivations behind the sales remain unknown, the sheer scale of the liquidation has fueled speculation around panic selling, portfolio rebalancing, or loss minimization.
The dramatic exit has cast a spotlight on the high-risk, high-reward nature of altcoin investments.
Also Read: Crypto Investor Who Once Made $108 Million on $TRUMP Meme Token Suffers $207K Loss in Just One Hour
VIRTUAL Price Sees Uptick Despite Whale Exit
Interestingly, despite the large sell-off, VIRTUAL’s price has shown resilience, posting a 6.29% increase in the last 24 hours and currently trading at $0.4699.
The rebound follows a broader 7-day decline of 19.50%, suggesting that short-term market sentiment may be recovering or that other investors are seizing the opportunity to buy the dip.
With a 24-hour trading volume of over $125 million and a circulating supply of 650 million tokens, VIRTUAL’s current market cap stands at approximately $306.7 million.
The token’s ability to withstand a major whale selloff could point to deeper liquidity and growing interest from new participants.
Broader Market Sees Mixed Outcomes Among Crypto Whales
This VIRTUAL-related loss is part of a broader trend of volatility impacting crypto whales across the market.
In recent days, another whale lost $434,000 after selling 438 billion PEPE tokens, while an Ethereum investor moved $2.93 million after two months of dormancy, despite facing an unrealized $5.34 million loss.Â
On the flip side, not all whale stories end in red, one long-term ETH holder recently walked away with a $65.68 million profit after selling 34,125 ETH acquired at $44 per token.Â
These contrasting outcomes reflect the unpredictable and often unforgiving nature of crypto investing, where timing, sentiment, and strategy can mean the difference between massive gain and multi-million-dollar losses.
Also Read: Curve Founder Michael Egorov Offloads 469K CRV at a Massive 54% Drawdown, Resulting in a $745K Loss