Crypto News

Illuvium’s $ILV Token Plummets Over 5% Amid Whale Sell-Off

The native token of the blockchain game Illuvium, $ILV, has experienced a sharp decline of over 5.3% within a few hours.

The price dropped from $71.2 to $65.85, sparking concern among investors.

The cause of this sudden dip is attributed to a significant sell-off by a large holder known as @luggisdoteth. This whale offloaded 40,730 $ILV tokens, equivalent to approximately $2.69 million.

The transaction, which converted the $ILV into 778.72 $ETH (valued at $2.72 million), was conducted on-chain earlier today.

$ILV Price Action To Monitor Following Recent Happenings 

The substantial sale by @luggisdoteth triggered a notable decrease in the $ILV price, falling by around 5%. Despite this large transaction, the whale still retains a considerable holding of 260,881.8 $ILV, valued at roughly $17.64 million.

The market is now watching closely to see how this will impact $ILV’s short-term performance and whether other major holders might follow suit.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: aoo3771/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *