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Cryptocurrency News Articles

The “Ethereum Whale” Who Made $554,000 in Profit in Six Weeks

Sep 27, 2024 at 11:15 pm

September brought surprising gains for the crypto market, with Ethereum rising above $2,600. One trader, known as the “Ethereum Whale,” took full advantage of this rally

The “Ethereum Whale” Who Made $554,000 in Profit in Six Weeks

An “Ethereum Whale” trader has reportedly netted over $500,000 in profit from a series of successful trades, according to data from on-chain analytics platform Lookonchain.

The trader’s activity was highlighted by a $26.2 million investment to buy 10,206 ETH tokens on September 26, which were then sold later the same day for $27.8 million.

The trader's total profit from nine trades over the past six weeks now stands at $2.11 million.

Other traders have begun copying the whale's moves, and some speculate that this level of whale activity could hint at a broader uptrend for ETH.

However, it's important to note that large trades can still impact the market, especially for less liquid assets.

The broader crypto market experienced a downturn last week, led by a 6.3% decline in Bitcoin. However, the total crypto market cap still increased by 0.3% over the past seven days to reach $2.12 trillion.

Original source:cryptodnes

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