Golden Finance reports that according to the monitoring of on-chain analyst Onchain Lens, a “giant whale” has made a big move recently after being silent for six months. It deposited 7 million FETs (approximately 5.26 million US dollars) into Binance, and this operation caused the whale to lose as much as 6.7 million US dollars.
Looking back to the very beginning, the whale withdrew 10 million FETs from Binance, which were worth approximately 17.15 million US dollars at that time. FET, the token of Forum, holds a certain position in the digital currency market, and its price fluctuations have always been closely watched by the market. As of 16:00 on June 12, 2025 (Eastern Time of the United States), the share price of Forum (FET) was $19.0, up $0.51 from the previous day, or 2.76%. The trading status was after-hours trading. The opening price on that day was $18.29, and the closing price yesterday was $18.49. The highest point reached $19.1763, the lowest was $18.29, the turnover rate was 0.63%, the price-earnings TTM was -1.89, the trading volume was 68,000, the trading value was 1.2848 million, and the total market value was 235 million.
In the cryptocurrency market, every move of a whale often has a significant impact on the market. There have been no shortage of similar cases in the past. For instance, during periods of intense volatility in the cryptocurrency market, large transactions by the “whales” often trigger market herd behavior, exacerbating the market’s ups and downs. For instance, in October 2022, Binance Chain was attacked by hackers. The hackers obtained a total of 2 million BNB from the “Token Center” system contract in two installments. It is estimated that the amount involved in this hacking incident was around 850 million US dollars. This event caused a significant fluctuation in the price of Binance Coin, and many investors suffered losses.
The market is abuzz with speculation about the recent act of the giant whale depositing FET in Binance and suffering huge losses. Some people hold the view that it might be because this whale was extremely pessimistic about the future price trend of FET and chose to cut its losses in time. Some analyses suggest that perhaps it is due to problems with its capital turnover and urgently needs to cash out the FETs it holds. At present, due to this huge whale operation, the short-term fluctuations in the FET market have intensified. Investors are closely monitoring the subsequent developments, hoping to capture market trends and adjust their investment strategies accordingly.
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