As a seasoned crypto investor with several years of experience under my belt, I’ve seen firsthand how the crypto market can be both unpredictable and incredibly rewarding. The recent revelation of an Ethereum whale making $16 million from a single trade is a testament to the potential profits that can be made in this space with the right conviction and strategy.
A significant Ethereum investor, holding a large amount of the cryptocurrency, has recently made a profitable transaction worth $16 million by dealing with the second biggest crypto token by market capitalization. This incident underscores the potential rewards of strong belief and commitment to investments within the crypto sphere.
How This Ethereum Whale Made $16 Million In A Single Trade
As a researcher studying blockchain data, I came across an intriguing finding using the on-chain analytics platform Lookonchain. In a recent post (previously shared on X, similar to Twitter), they disclosed that a significant investor, referred to as a whale, extracted 12,906 ETH ($24.39 million) from Binance approximately one year ago when Ethereum was priced at $1,890. Presently, with Ethereum trading around $3,100, the value of the whale’s ETH investment surpasses $40 million, indicating a substantial profit of roughly $16 million.
It’s intriguing that the profits from this trade are expected to exceed $16 million for the trader, as they transferred those tokens to the Lido platform when withdrawing them from Binance the previous year. Consequently, they also gained substantial staking rewards in addition to their $16 million profit.
Recent on-chain activity indicates that a major investor, or “whale,” withdrew approximately 7,000 ETH (equivalent to around $21 million) from Lido Finance and transferred the tokens to Binance. This large transaction has not been followed by any signs of selling these Ethereum tokens yet. It’s worth noting that if this investor decides to offload their Ethereum holdings, it could potentially influence the price of Ethereum negatively.
Justin Sun, the founder of Tron, is suspected to have amassed a large fortune in Ethereum, joining the ranks of other Ethereum investors who stand to reap substantial gains. According to reports, two wallets linked to Sun are estimated to hold approximately 295,757 ETH, which amounts to over $891 million at an average purchase price of around $3,014 since February 12. Following this accumulation, Sun has taken some strategic steps that could potentially yield profitable outcomes for him.
As a researcher studying blockchain and cryptocurrency developments, I came across an interesting transaction recently. The Tron founder, Sun, transferred 120,000 eETH into Swell L2, a liquid staking protocol. He asserted that this action wasn’t driven by profit motives. However, given the current market buzz surrounding staking and its potential benefits, Sun could potentially reap substantial profits from his investment in Swell L2.
The Bull Run Presenting A Lot Of Opportunities
In recent times, there has been an abundance of noteworthy reports emphasizing substantial gains made by crypto investors and traders, indicating a robust bull run. Bitcoin‘s underwhelming price performance notwithstanding, the market surge has presented an opportunity for traders to reap sizeable returns. One particular trend that has emerged during this cycle is the investment in meme coins.
Prior to the bull market’s commencement, there was a widespread notion that meme coins would spearhead the trends, and this prediction has held true. Bitcoinist unveiled the success stories of two traders who capitalized on Solana meme coins, turning an initial investment of $6,400 into a staggering $8 million. Simultaneously, Lookonchain disclosed that another trader saw a return of 144x on their investment, amassing $1.26 million from a starting point of 60 SOL ($8,673) within just two months.
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2024-05-07 18:05