Wintermute Loses Millions of Dollars After Exchange RBN to AEVO!

Bittime - A detrimental trading action has just occurred. Crypto market maker company Wintermute experienced significant losses after exchanging tokens for AEVO. What is the chronology and current condition of Wintermute? Read this article to the end to find out!

Chronology of RBN to AEVO Exchange Events

The AEVO token exchange channel for RBN (and vice versa) officially opens on May 15 2024 at 18:00 WIB. Wintermute was recorded as the address with the largest exchange activity. 

Wintermute exchanged 2.5 million RBN tokens to AEVO, and suffered a loss of US$778,000 (around Rp. 11.6 billion).

Before exchanging, Wintermute is known to have been accumulating RBN tokens since the beginning of the year. The accumulation period runs from January 3, 2024 to May 13, 2024.

During this period, Wintermute has collected a total of 17.7 million RBN tokens at an average price of US$1.24 per token.

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Current Conditions: Wintermute Loses Millions of Dollars

After exchanging RBN to AEVO, Wintermute still has remaining RBN ownership of 2.73 million tokens. The value of RBN ownership is currently experiencing a floating loss or unrealized loss of US$ 1.14 million (around Rp. 16.9 billion).

Wintermute's losses were compounded by the decline in AEVO token prices which reached 22% in the last 24 hours. At the time of writing this article, the AEVO token price was at US$0.8238.

AEVO Price Today

Source: Bittime

Based on today's Bittime market, the price of AEVO was observed to have decreased by 21.13 percent in the last 24 hours at the time this article was written. Currently, the price for AEVO to IDR is IDR 13,429.

Also Read How to Buy Crypto:

RBN to AEVO: Wintermute Lacks Research

Wintermute's decision to exchange RBN for AEVO in large amounts is considered an unprofitable move.

Wintermute allegedly did not conduct sufficient research on AEVO tokens before exchanging large amounts. As a result, the exchange was carried out when the price of the AEVO token was decreasing.

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How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Aevo Launches Epoch 4: Distributes 1.3 Million $AEVO to Active Traders and Stakers

Aevo Gives 600,000 AEVO Rewards to Active Traders and Stakers!

Aevo Launches Merlin Chain (MERL) Pre-Launch Contract

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.