A crypto trader holding 22,341 ETH sold the assets days before the market crash, avoiding a potential loss of over $5 million. The trade was flagged by the blockchain analysis platform Lookonchain. While the trader lost around $1.7 million in value, they managed to avoid further potential losses when the market prices dropped. Ether, the second-largest crypto by market capitalization, dropped from around $1,820 per token to about $1,597 in a day. Bitcoin also experienced a drop before making a recovery. The market crash followed a report that Elon Musk’s SpaceX wrote down $373 million worth of BTC. It remains unclear whether the entire holdings were sold or not. Some users criticized Musk for his actions on social media.
