A prominent cryptocurrency investor, commonly referred to as a ‘whale’, has secured a significant profit from a recent Ethereum (ETH) sale. The whale strategically unloaded 2,720 ETH at a price of $3,692.69 per token.
This recent transaction yielded an estimated profit of $677,000. This profit stems from the whale’s prior acquisition of the ETH at a considerably lower average cost basis of $3,437 per token, acquired during previous market downturns.
The profit from this ETH sale significantly adds to the whale’s substantial track record. Previously, the investor famously generated a profit of $5.16 million by successfully executing short positions on Bitcoin (BTC) amidst the market turmoil surrounding the LUNA/UST collapse.
Combining the gains from the recent ETH sale with previous profitable trades involving both BTC and Wrapped Bitcoin (WBTC), the whale’s total accumulated profit now stands at an impressive $7.41 million. This sequence of lucrative moves highlights the investor’s disciplined approach to market timing and strategic buying during price dips.