Whales/institutions that received an airdrop of approximately $1.61 million by holding VIRTUAL lost $6.54 million after selling VIRTUAL at a low point

PANews reported on June 28 that according to on-chain analyst Yu Jin's monitoring, the whale/institution that previously purchased $VIRTUAL with 10 million USDC ultimately suffered a loss of $6.54 million, despite receiving an airdrop worth approximately 1.61 million USDC. The operation process was as follows: In December last year, the whale/institution spent 10 million USDC to purchase 4.251 million VIRTUAL at an average price of $2.35; in January, it received an airdrop of 101,000 VVV tokens due to holding a large amount of VIRTUAL, which was subsequently sold for 1.61 million USDC; in March, 4.251 million VIRTUAL were liquidated at an average price of $0.56. Today, the whale/institution emptied its address and transferred 3.46 million USDC to Coinbase.