On October 1, Lookonchain monitoring revealed that Fenbushi Capital executed a substantial sale of crypto assets amounting to $5.14 million just three hours prior. The portfolio disposed of consists of a variety of cryptocurrencies, including 136,094 EIGEN valued at approximately $514,000, 146,537 UNI estimated at $1.13 million, 10.17 million SNT translating to about $244,000, 10,681 COMP approximated at $509,000, 11,616 AAVE reflecting a value of approximately $1.9 million, 344,086 SUSHI equating to around $276,000, and 219 ETH which is valued at about $576,000. This transaction sheds light on the significant financial impact this sale has had on Fenbushi Capital.
Records indicate that the firm faced steep losses across multiple cryptocurrencies. Specifically, the losses tallied were $2.44 million, representing a staggering 90% decrease on SUSHI, followed by a $2.27 million loss (-82%) on COMP, a $1.53 million loss (-42%) on UNI, and a $499,000 loss (-15%) on AAVE.
Such dramatic declines underscore the volatility and risk associated with cryptocurrency trading, which can lead to substantial financial setbacks even for established investment firms like Fenbushi Capital..