- Whale’s portfolio shrinks by 69% after risky bets on EIGEN and HYPE tokens.
- Poor timing and overconfidence led to a $22.42 million capital erosion.
- Heavy EIGEN sell-offs and HYPE losses highlight market cycle misjudgment
A major crypto investor, likely an institution or influential whale, has seen their bold portfolio strategy turn into a cautionary tale. After entering the market with $32.45 million last October, their aggressive bets on EIGEN and HYPE have lost significant value.
In just five months, what was once a robust capital base has dwindled to a mere $10.03 million. That’s a $22.42 million loss, reflecting a 69% drop in portfolio value.
This sharp downturn stems from poor timing, risky reallocations, and overconfidence in hyped assets. The story showcases how even whales, armed with massive capital, are not immune to misjudging market cycles.
还记得这个去年大手笔购买 $EIGEN 的鲸鱼 (or 机构) 吗 …他可是有点惨😂
— 余烬 (@EmberCN) April 2, 2025
3245 万先是高点买 $EIGEN 亏掉 $1719 万，换了部分仓位到 $HYPE 去吧，也是在最高点接盘亏掉 $521 万。
去年 10 月的 $3245 万 U 到现在只值 $1003 万了，5 个月时间亏没了 $2242 万 (-69%)。
他的亏钱操作👇：… https://t.co/uG1UaMd1VZ pic.twitter.com/CD0mF6htTz
Initial Moves and the EIGEN Gamble
In October, 21 addresses linked to this whale pooled together $32.45 million to purchase approximately 8.917 million EIGEN tokens. The average purchase price hovered around $3.64 near the asset’s local peak. Initially, it seemed the investment might hold, as EIGEN prices briefly surged to $3.77 in December.
However, the investor only exited part of their position, selling 2.417 million EIGEN for 9.12 million USDC. That profit was then immediately used to chase another trending token: HYPE.
This is where things took a turn for the worse. The whale bought 295,000 HYPE tokens at a peak price of $30.90. Today, HYPE trades around $13.40, leaving them with an unrealized loss of over $5.2 million.
Further Liquidations and Portfolio Breakdown
After the initial missteps, the whale continued to offload assets. In recent days, they sold another 2.862 million EIGEN tokens for just $1.068 per token. The trade was exchanged into 31.6 WBTC, worth about $3.05 million.
Currently, their remaining portfolio consists of 3.638 million EIGEN worth approximately $3.08 million, 295,000 HYPE worth $3.9 million, and 36.1 WBTC totaling around $3.05 million. The combined value is just $10.03 million.
