A prominent institutional investor has conducted a third significant Ethereum (ETH) swing trade, purchasing 15,000 ETH for $42.3 million.
The transaction, executed using $42.3 million USDC, resulted in an average purchase price of $2,820 per ETH. This latest move follows two prior successful swing trades by the same entity, which cumulatively generated $30.45 million in profit.
The trade was facilitated by liquidity provider Wintermute and its activity was monitored by blockchain analytics firm Ember.
This repeated pattern of large-scale ETH acquisitions underscores institutional confidence in exploiting short-term price volatility within the Ethereum market. The activity highlights the increasing influence of institutional capital on cryptocurrency market dynamics.
Analysts emphasize the importance of tracking such significant ‘whale’ transactions as indicators of potential market trends and institutional sentiment shifts.