Whale Turns from Profit to Loss, Initiates Plan to Reduce 100 Million SOPH, Price Falls 62% from High

Odaily News: SOPH fell continuously after hitting a high yesterday, reaching a low of $0.005145 this morning, a decline of about 62.27% from yesterday's high of $0.013637.

A whale went long on SOPH near the low yesterday. At 01:48 yesterday, SOPH hit a low of $0.004645; 17 minutes later, the address began going long, with the first trade at $0.004736, less than 2% from the low. Subsequently, the address added positions in two rounds during the uptrend, eventually expanding its long position to 157.92 million SOPH, with a cumulative opening transaction value of about $1.0421 million and an average entry cost of about $0.006599.

SOPH then rose, reaching $0.011467 at 13:30 yesterday, up about 147% from the early morning low; at 13:33, the address's floating profit reached about $740,700. Starting at 13:35 yesterday, SOPH fell from $0.011304 to $0.00936 within 5 minutes, a single 5-minute drop of 17.20%; subsequently, the price again experienced a single 5-minute drop of 12.52%, and continued to decline to this morning's low. During this period, the address did not close its original long position.

At 08:57 today, the address initiated a 12-hour TWAP to sell 100 million SOPH in batches. The first closing trade was at $0.00525, below the average holding cost of $0.006599. As of press time, the address has sold about 13.6017 million SOPH, realizing a trading loss of about $16,400; the remaining long position of about 144.31 million SOPH is valued at about $769,900, with a floating loss of about $182,400.