- A whale unstaked 8.67M OM after 281 days of dormancy.
- 7M OM ($43.45M) was deposited to Binance, leaving 1.67M OM.
- The whale’s total estimated profit is $47.64M (+793%).
Whale Cashes in on Huge Gains After 281 days of dormancy, a major crypto whale has made a significant move, unstaking 8.67 million OM tokens. This whale, who initially withdrew 8.81 million OM from Binance on April 17, 2024, at a price of just $0.682 per token, has now capitalized on the token’s explosive growth.
With OM currently trading above $6.1, the whale deposited 7 million OM—valued at approximately $43.45 million—back into Binance. Despite this major deposit, they still hold 1.67 million OM, worth an estimated $10.2 million.
Staking Strategy Pays Off Big
The whale’s strategic staking move has yielded impressive returns. By acquiring OM at just $0.682 per token and waiting nearly 10 months, they have turned their holdings into a staggering $47.64 million profit, representing an increase of approximately 793%.
This case highlights the potential benefits of long-term staking in crypto, particularly in volatile markets where patient investors can see substantial gains. It also raises questions about the future movement of OM’s price, as significant whale activity can impact market dynamics.
Market Impact and Future Outlook
Large deposits of crypto into exchanges often signal potential selling pressure, which could lead to price fluctuations. Investors and traders will be closely watching the whale’s next move and how the market reacts to this significant deposit.
With OM’s price surge, the broader community will be speculating whether the whale will cash out completely or hold onto their remaining 1.67 million OM for further gains. Either way, this event showcases the immense profit potential in the crypto staking world.
