Blockchain Capital Sold Off LDO, RPL Before Shanghai Upgrade
CoinEdition
Published Apr 13, 2023 02:14AM ET
Updated Apr 13, 2023 02:30AM ET
Blockchain Capital Sold Off LDO, RPL Before Shanghai Upgrade
- Blockchain Capital sold LDO worth $2.52 million and RPL worth $2.9 million.
- Lookonchain recognized the transactions’ significance among LSDs.
- The venture firm no longer holds any LDO and holds only 107,085 RPL.
Blockchain Capital, a leading venture firm in the blockchain industry, sold significant amounts of liquid staking derivatives (LSDs) yesterday. The transactions were reported in Lookonchain’s countdown to the Ethereum Shanghai Upgrade.
Lookonchain mentioned that Blockchain Capital sold 1.5 million LDO worth $2.52 million and 65,352 RPL worth $2.9 million.
According to Lookonchain, Blockchain Capital no longer holds any LDO but holds only 107,085 RPL valued at $4.52 million after selling those tokens.
Lookonchain reported that Blockchain Capital bought 1.5 million LDO with 1,000 ETH between January 27 and February 21, 2022. Then, the value of the ETH used in the transaction was $2.52 million, and the average price of the LDO tokens bought was $1.64. Blockchain Capital sold all the LDO it acquired during this period today at $2.33, earning 1,871 ETH in the transaction, with a value of $3.57 million, reflecting a profit of $1.05 million.
Similarly, Lookonchain noted that on April 15, 2022, Blockchain Capital bought 59,236 RPL using 2 million USDC at $34 per RPL. Before this transaction, the venture firm bought 61,539 RPL using 600 ETH, valued at $2.15 million. It executed the transaction on October 8, 2021, when the price of RPL was $35.
From its total holdings, Blockchain Capital sold 65,352 RPL at $44 per token and earned 1,522 ETH valued at $2.9 million. Based on the price of ETH at the time of the report, Blockchain Capital made a profit of almost $1.09 million in the RPL transaction.
Ethereum’s Shanghai upgrade is now active, and users expect volatility in the cryptocurrency market. Big investors like Blockchain Capital could play significant roles in how the market develops in the coming hours.
The post Blockchain Capital Sold Off LDO, RPL Before Shanghai Upgrade appeared first on Coin Edition.
See original on CoinEdition
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.