A significant investor in $LAYER has successfully offloaded their entire holdings, generating an impressive profit of $1.704 million.
On-chain analysis reported that this whale, ranked among the top six largest $LAYER holders, had strategically accumulated 6 million tokens at an average price of $0.9559 just three weeks prior.
The sale, which occurred approximately five hours before the report, demonstrates a well-timed profit-taking move amid the token’s strong upward trajectory.
With a return on investment (ROI) of 78%, the transaction showcases the lucrative potential of trading $LAYER, particularly during its ongoing bullish momentum.
$LAYER Defies Market Downtrend, Showing Strong Growth
Despite Bitcoin (BTC) experiencing a market downturn, $LAYER has continued its upward trend, currently trading at $1.16.
The independent price movement suggests that investor sentiment toward $LAYER remains strong, with confidence in its long-term growth potential.
Factors such as increased demand, positive sentiment, and strategic whale activity could be contributing to its sustained rise.
The bullish trend has placed $LAYER under close watch, with many investors anticipating further gains and potential profit opportunities.
With other major holders still evaluating their positions, the token’s near-term performance could be influenced by additional whale movements.
Also Read: Crypto Investor Has Pulled Off $4.4M Profits In a $449M BTC Short Trade Despite Opposition
Another Large Investor Holds $1.1 Million in Unrealized Gains
While one whale has already taken profits, another major investor who entered the $LAYER market around the same time continues to hold their position, currently sitting on an unrealized profit of approximately $1.118 million. This represents a 47.7% return on their initial investment.
Unlike the investor who chose to liquidate, this holder appears to be betting on further price appreciation before selling.
Their decision to wait could indicate expectations of continued bullish momentum, a belief in the project’s long-term value, or a calculated approach to maximizing returns.
The behavior of large investors like these often influences short-term price movements and market sentiment, making their next moves crucial for traders.
$LAYER Market Metrics Indicate Strong Performance
The price of Solayer ($LAYER) has increased today, currently trading at $1.20 with a 24-hour trading volume of $352,432,257. This marks a 7.11% increase in the past 24 hours and a 1.79% rise over the past week.
With a circulating supply of 210 million tokens, $LAYER now holds a market cap of $252,354,081.
The token’s steady performance amid broader market fluctuations further cements its resilience and potential for further growth.
Investors are closely monitoring the token for signs of continued bullish momentum, with the possibility of additional whales either taking profits or increasing their holdings.
Crypto Market Sees Major Profits from Recent Trades
Beyond $LAYER, the broader crypto market has witnessed several high-profile profit-taking events.
A long-term Ethereum whale secured $65.68 million after selling 34,125 ETH acquired at just $44 per token eight years ago.Â
Meanwhile, a trader turned $809 into an astonishing $510K within 15 hours through a highly volatile $SZN trade, which surged over 99,990% in a single day.Â
Additionally, a Bitcoin trader recently closed a $500 million BTC short position with 40x leverage, securing a $9 million profit in minutes despite facing near-liquidation.Â
These cases highlight the high-risk, high-reward nature of the cryptocurrency market, where strategic trading decisions can lead to massive gains or losses within short time frames.
Also Read: Crypto Trader Makes $1.5 Million Profit From $84,000 $MUBARAK & $TUT Memecoin Trade