A cryptocurrency whale has incurred a significant $1.17 million loss after transferring $2.82 million worth of KAITO tokens to Binance exchange.
The transaction occurred following a steep 43% decline in KAITO’s market value since late May, highlighting the volatile nature of token investments.
Records indicate the investor originally withdrew 1.79 million KAITO tokens from Binance on May 29, spending approximately $3.99 million at a rate of $2.23 per token.
Selling accumulated tokens at current depressed market prices resulted in the substantial financial setback during this transfer.
This high-value transaction serves as a fresh reminder of the persistent risks and rapid valuation shifts characterizing cryptocurrency markets.