Here’s how this Ethereum whale earned $16 million in a single transaction.
not Ethereum Whale It was recently revealed that a single transaction involving the second-largest cryptocurrency token by market capitalization earned $16 million. This whale’s story once again emphasizes how strong our confidence in whales is. invest In the cryptocurrency space, it can be very rewarding.
How this Ethereum whale earned $16 million in a single transaction
On-chain analysis platform Lookonchain Published on X (formerly Twitter) post A year ago, when the cryptocurrency token was still trading at $1,890, the whale withdrew 12,906 ETH ($24.39 million) from Binance. With Ethereum currently trading at around $3,100, the whale’s ETH investment is now worth over $40 million, which represents a profit of around $16 million.
Interestingly, his profit from this transaction is likely to be more than $16 million since traders deposited those tokens. Staking Platform Lido When he withdrew them from Binance last year. This means that he also received significant staking rewards along with a profit of $16 million.
On-chain data shows whales recent withdrawal 7,000 ETH ($21 million) has been returned from Lido to Binance, but we have not yet offloaded these tokens. However, this is something to keep an eye on as whales offloading those tokens could have a negative impact on the Ethereum price.
Justin Sun, founder of Tron, appears to be another Ethereum whale who could make significant profits from his ETH investments. Two wallets believed to belong to Sun reported Since February 12, it has accumulated 295,757 ETH ($891M) at an average price of $3,014. Since then, Sun has made several notable moves that could benefit him.
One such move was by the Tron founder. Latest deposit Invest 120,000 eETH in Swell L2, a liquid re-staking protocol. Although Sun claims this move is not profit motivated, he could still stand to profit massively from his venture considering re-staking is one of the main stories at the moment.
Bull Run presents many opportunities
There were a lot report We highlight how cryptocurrency investors and traders are changing their lives. This suggests that despite Bitcoin’s downtrend, the uptrend is already in full swing. unimpressive price action Recently. One opportunity these traders have taken advantage of during this market cycle is: meme coin.
Before the bull market began, there was a belief that memes would become one of the dominant narratives, and they did. bitcoinist recently reported Two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain disclosed the following: Solana This trader turned 60 SOL ($8,673) into $1.26 million in 2 months, multiplying the return on his investment by 144 times.
ETH price sees sharp drop | Source: ETHUSD on Tradingview.com
Featured image from Reddit, chart from Tradingview.com
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