According to cryptocurrency analysis firm Arkham, DJ Steve Aoki has exited the cryptocurrency market after sustaining heavy losses on his investments. The data shows he sold $30,000 worth of Shiba Inu and Ethereum, moving the proceeds to the Gemini exchange. His remaining portfolio includes Bored Ape NFTs, which have collapsed in value from over $800,000 in 2021 to approximately $13,800 each today.
Steve Aoki, a prominent DJ and former NFT influencer, has sold his cryptocurrency holdings according to an investigation. The platform Arkham stated that the DJ sold $30,000 worth of Shiba Inu (SHIB) and Ethereum (ETH), while moving his funds to Gemini.
Arkham notes that Aoki still possesses seven Bored Ape NFTs acquired for over $800,000 in 2021. Each is currently worth an estimated $13,800 following a severe market downturn.
The cryptocurrency market has faced substantial struggles over the last few months. Aoki’s Shiba Inu holdings may have particularly underperformed for more than a year.
Apart from his cryptocurrency holdings, his NFT collection has lost considerable value. The digital art market’s hype has largely diminished after booming in 2021 and 2022.
The broader market remains in a bearish phase influenced by economic and geopolitical factors. Historical cycles suggest such conditions are a recurring part of the cryptocurrency landscape.
