Crypto News

Smart Trading Strategies And Whale Moves In The Ethereum Market

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.

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.

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. 

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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Image Source: iloveotto/123RF // Image Effects by Colorcinch

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