News View Non-AMP

SPX Whale Gets 42x Crypto Return, Cashes Out $6.44M Profit!

Published by
Mustafa Mulla

SPX6900 (SPX) has been on a strong upward trend since its launch, drawing attention with new price highs. Recently, a major SPX whale made headlines by cashing out with a massive profit. After buying 7.793 million SPX tokens in early August, the whale began selling, earning nearly $6.44 million.

Keep reading to uncover the details of this remarkable crypto trading success story.

Smart Investment Turns into Huge Gains

According to Spot On Chain data, the whale invested just $153,000 between July 31 and August 15, accumulating 7.793 million SPX tokens. As SPX prices surged, the whale’s investment grew into an incredible $6.44 million—an impressive 42x return.

This highlights the high-risk but high-reward nature of cryptocurrency, where early investments can lead to significant profits.

With SPX prices rising, the whale started selling. Just 11 hours before Spot On Chain’s report, they sold about 793,092 SPX tokens for $687,000, converting this into 280.5 ETH. This move not only locked in profits but also helped diversify their portfolio.

Even after this big sale, the whale still holds around 7 million SPX tokens, worth an estimated $5.91 million, showing continued belief in SPX’s potential while securing some major gains.

SPX Sees 300% Price Jump

At present, SPX is trading at $0.88, with a 3.32% rise in the past 24 hours and a market cap of $813 million. Since October 3, when SPX was valued at $0.28, the token has soared by 300%, causing waves in the market. However, this price surge hasn’t been smooth.

So… Is a Reversal Coming?

Despite SPX’s rapid rise, its climb has been uneven, unlike other cryptos that tend to follow a more consistent pattern before entering a bull phase.

Adding to concerns, the 1-hour chart’s Relative Strength Index (RSI) shows a bearish divergence. While SPX’s price continues to rise, the RSI is trending downward, suggesting a weakening in buying strength. This could be a sign that a price reversal may be approaching as momentum slows.

SPX’s wild price swings offer both incredible opportunities and significant risks. Are you ready to take the plunge?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Pi Coin Price Crashes 78%: Is This the End for the Once-Hyped Cryptocurrency?

Pi Coin, once one of the most hyped cryptocurrencies, is now in deep trouble. After…

April 3, 2025

Metaplanet Boosts Bitcoin Holdings with ¥2.63 Billion Raise

Japanese public company Metaplanet has secured ¥2.63 billion in funding to expand its Bitcoin holdings.…

April 3, 2025

Trump Reciprocal Trade Tariffs Spark Fear! Is Bitcoin Crashing to $71K?

Bitcoin is once again facing a period of uncertainty as new U.S. trade tariffs add…

April 3, 2025

Bitcoin Price Analysis: Will BTC Break Resistance or Face Rejection?

Since the start of this year, the Bitcoin market has experienced a decline of 10.64%.…

April 3, 2025

YouHodler review: A Closer Look at the Platform

With the continued rise of crypto finance, cryptocurrency platforms offer more than just crypto trading.…

April 3, 2025

Bitcoin ETF Inflows Hit $220M Despite Crypto Crash – Time to Buy the Dip?

The cryptocurrency market took a major hit after President Donald Trump’s latest tariff announcement, wiping…

April 3, 2025