1. SipPop GamesHome
  2. Blockchain Buzz

SHIK Price Plummets After Sale of 5 Trillion Tokens Owned by Vitalik

• Blockchain Buzz • 124 views

It is reported that, according to the monitoring of Lookonchain, after the sale of about 5 trillion SHIK at Vitalik\’s address yesterday, the price of SHIK plumm

SHIK Price Plummets After Sale of 5 Trillion Tokens Owned by Vitalik

It is reported that, according to the monitoring of Lookonchain, after the sale of about 5 trillion SHIK at Vitalik’s address yesterday, the price of SHIK plummeted by nearly 80%. Some SmartMoney and arbitrageurs immediately bought SHIK at very low prices and then sold it. One SmartMoney address earned 96 ETHs with 14 ETHs in SHIK, and another arbitrageur earned 89.6 ETHs with 6 ETHs.

SmartMoney and arbitrageurs arbitrage through the price fluctuation caused by Vitalik’s selling of SHIK

Analysis based on this information:


The recent sale of 5 trillion SHIK tokens by Vitalik Buterin, the creator of Ethereum, has sent shock waves through the cryptocurrency market. According to blockchain monitoring service Lookonchain, the price of SHIK plummeted by almost 80% following the sale. This sudden drop in price created a buying opportunity for SmartMoney investors and arbitrageurs who quickly swooped in to take advantage of the price volatility.

The sudden plunge in SHIK’s price is not entirely surprising given the significant amount of tokens put up for sale. Vitalik’s address had held a substantial number of SHIK tokens, and the sale was bound to have an impact on the price. However, the extent of the price drop shows the intense sensitivity of the market to such large transactions.

Despite the sharp price drop, some investors saw the opportunity to buy SHIK at a very low price and then sell it once the price had stabilized. SmartMoney investors, known for their expertise in spotting market inefficiencies and profiting from them, were among the first to buy SHIK at rock-bottom prices. Likewise, the rapid price change attracted arbitrage investors, who took advantage of price discrepancies in different exchanges to make a quick profit.

The two investors mentioned in the message earned a considerable sum of ETH from their successful deals. One SmartMoney address made 96 ETHs with 14 ETHs in SHIK, while another arbitrageur earned 89.6 ETHs with six ETHs. These numbers reflect the high-risk, high-reward nature of crypto trading, and how a quick move can result in a significant gain or loss.

Overall, the message’s interpretation reveals that the crypto market remains highly volatile and sensitive to large transactions. It also highlights the potential for SmartMoney and arbitrage investors to profit from sudden price changes. Nevertheless, investors must tread carefully and be mindful of market risks to avoid significant losses.

In summary, the SHIK token’s price plummeted after the sale of a significant amount of tokens by Vitalik, creating a buying opportunity for some investors. SmartMoney and arbitrage investors quickly capitalized on the price volatility, making considerable gains from the deal. However, the incident also shows the crypto market’s unpredictability and sensitivity to large transactions, emphasizing the importance of caution for investors.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/7778.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/08/2023 07:04
Next 03/08/2023 07:21

Related recommendations