Crypto Address Sells PERP Holdings, Incurring a Loss of $2.04 Million


This article has been republished with permission from Binance News.

According to Odaily: An address experienced a significant loss of US$2.04 million after selling its holdings of perpetual contracts (PERP). According to on-chain analyst Ember monitoring, over the course of two days, the address traded 4,509 wrapped Ether (WETH) for 6.8 million PERP at an average price of $1.04.

However, just 20 minutes ago, the address sold all of its PERP holdings at an average price of $0.74, resulting in a profit of $5.02 million – and a substantial loss of $2.04 million or 29%. This highlights the high volatility and potential risks associated with trading cryptocurrencies and engaging in the market.

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