SPX6900 (SPX) has captured attention due to its rapid price rise and the recent major token sale by a large holder.

Profit from SPX Sell-Off

A significant SPX holder turned an initial $153,000 investment in 7.793 million SPX tokens into $6.44 million, a 42x increase, thanks to subsequent price rises. According to Spot On Chain, this investor started selling tokens 11 hours after the report was published. In the initial phase, 793,092 tokens were sold for $687,000, leading to asset diversification by exchanging for 280.5 ETH.

SPX Sees 300% Price Jump

Currently, SPX is trading at around $0.88, up 3.32% in the past 24 hours, with a market cap of $813 million. Since October 3, when the price was $0.28, SPX has seen a 300% surge, making significant waves across the market.

SPX Price Movement Analysis

Despite its impressive rise, SPX’s price trajectory has been anything but smooth. The 1-hour RSI shows a bearish divergence, signaling a potential price reversal as the buying momentum falters.

The recent SPX sell-off highlights the high-profit potential inherent in the crypto market. It also underscores the volatility that requires investors to be vigilant and cautious.