As Ethereum experienced a pullback, with its price dipping back to $2900, astute observers noted a savvy trader who capitalized on the market movement.
The trader sold 7,425 ETH, amounting to $21.8 million, at $2,937 just a few hours ago, showcasing a keen sense of timing.
A smart trader sold 7,425 $ETH($21.8M) at $2,937 9 hours ago.
He made ~$10.66M in 4 months by buying $ETH at low prices and selling at highs!
Bought 9,217 $ETH($17.2M) at $1,863 from Oct 21 to Nov 22, 2023, and sold it at $2,442 from Jan 10 to Jan 13, 2024, making ~$5.34M.… pic.twitter.com/RMGo9g4ZWn
— Lookonchain (@lookonchain) February 23, 2024
Over the past four months, this trader demonstrated shrewdness by strategically buying low and selling high, resulting in impressive gains.
In one instance, the trader acquired 9,217 ETH, valued at $17.2 million, at $1,863 between October 21 and November 22, 2023. This stash was later sold at $2,442 from January 10 to January 13, 2024, yielding approximately $5.34 million in profit.
大盘回调，ETH 跌回 $2900📉 累计建仓 123,347 枚 $ETH 的巨鲸 / 机构又一次果断选择了加仓！
过去九小时，该巨鲸从币安转出 18,615 枚 ETH，随后通过 1inch 直接买入 3394 枚，共计加仓 22,009 枚代币（价值 6460 万美金），平均成本 $2935
截止目前，该巨鲸共持有 160,083 枚 ETH，平均成本 $2850 https://t.co/dXnRNKOSVr pic.twitter.com/oWogdgXhZD
— Ai 姨 (@ai_9684xtpa) February 24, 2024
Following a similar pattern, the trader purchased 7,429 ETH, valued at $16.5 million, at $2,219 on January 26. Subsequently, these holdings were sold at $2,937, generating a profit of approximately $5.32 million.
Suspected Justin Sun Wallet Makes Notable Ethereum ETH Moves
In contrast, the suspected JustinSun wallet, boasting a cumulative position of 123,347 ETH, opted to increase its position decisively.
In recent hours, the whale facilitated a transfer of 18,615 ETH from Binance, swiftly followed by the acquisition of an additional 3,394 ETH through 1inch.
The suspected #JustinSun wallet bought 18,616 $ETH($54.57M) from #Binance again 10 mins ago.
He bought 151,196 $ETH($435.3M) at $2,879 from #Binance and #DEX in less than 12 days!😱https://t.co/pq40KOW7Fi pic.twitter.com/1aZjvWCnvB
— Lookonchain (@lookonchain) February 23, 2024
This strategic move added a total of 22,009 tokens, equivalent to $64.6 million, with an average cost of $2935.
As of the latest update, the whale maintains a total of 160,083 ETH, acquired at an average cost of $2850, signaling confidence in Ethereum’s long-term potential.
These developments underscore the dynamic nature of the Ethereum market, where traders employ diverse strategies to capitalize on market fluctuations, while whales continue to assert their influence through strategic maneuvers.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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