Ethereum News: ETH Whale Nets $5 Million in Profits After Buying The Dip

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As a seasoned analyst with over two decades of experience in the financial markets, I can confidently say that the recent Ethereum rally is nothing short of remarkable. Watching this ETH whale turn $6.97M into $12M in just three months is a testament to the potential of cryptocurrencies and the power of smart trading strategies.

After Bitcoin‘s price surge, Ethereum is quickly gaining momentum with the optimistic investors. The price of ETH has reached and surpassed $4,000, and a 18% additional increase would bring it to its all-time high (ATH) of $4,800. As this bullish trend continues, one Ethereum investor, known as a ‘whale’, made a profit of approximately $5 million by employing clever crypto trading tactics.

Ethereum Whale Turned $6.97M Into $12M In 3 Months

A well-known cryptocurrency advocate known as The Data Nerd recently disclosed information about a significant Ethereum (ETH) investor, often referred to as a ‘crypto whale.’ This whale saw substantial profits in less than three months, as per his Reddit post. On September 9th, this ETH whale, identified by the wallet address ‘0xc3d’, invested $6.97 million to acquire 3,002 ETH. At that point, Ethereum was experiencing a downturn in the market, with its price dropping to around $2.3k, providing an excellent opportunity for whales to purchase a large amount of the supply at a lower cost.

On September 9th, when ETH dropped to around $2,300, the astute individual with the address 0xc3d invested a total of approximately $6.97 million to acquire 3,002 ETH units.

2 hours ago, he just deposited 2k $ETH (~$8.01M) to #Bybit with estimated realized profit ~$1.04M.

Just now, he still hodls 1,005 $ETH (~$4M)

Address:

— The Data Nerd (@OnchainDataNerd) December 17, 2024

It’s noteworthy that the dip in Bitcoin’s price didn’t persist for long, as it reached an all-time high (ATH), causing the entire market to lean bullishly. Consequently, the value of Ether (ETH) increased substantially, turning an initial investment of $6.97M into $12M over a period of three months. Notably, a large ETH investor, often referred to as a “whale,” has just added 2,000 ETH, worth around $8.01M, to the platform Bybit. This move generated a profit of approximately $1.04M for the whale. However, this same whale still holds around 2,005 ETH, which is currently valued at roughly $4.02M given the current price of ETH at $4,000K.

In essence, his initial investment has yielded a profit of $5 million. He continues to hold onto additional tokens, hoping to increase that profit further as time goes by.

Ethereum Whale Accumulation Persistent With ETH Price Rally

With the Ethereum news confirming that the  ETH price is reclaiming $4k, the interest has grown into the token. More importantly, the token is set for a further price rally per many analysts. In anticipation of that, the Ethereum whale accumulation has increased, with the whale wallets holding more than 100k ETH reaching 104, with current holding exceeding 57.35% of the total Ethereum supply. More importantly, an earlier CoinGape report noted that more than 92% of the ETH holders are in profit.

One aspect to take into account is that the number of crypto whale wallets containing between 100 and 100,000 ETH has reached an all-time low at 34.36%. Similarly, those with fewer than 100 tokens in their portfolios have also dropped significantly. However, Santiment suggests that this could indicate a long-term bullish trend, as an increased holding among larger whales is considered a bullish sign.

What’s The Lesson Here?

Even though ETH had a sluggish beginning to the year, its price surge is mirroring market optimism and recently surpassed $4,000. Over the past three months, the value has nearly doubled, resulting in a $5M profit for an Ethereum investor who held it for almost 3 months. This savvy trader employed fundamental strategies like investing in promising tokens during periods of consolidation or bottoming out. Crucially, they hung on to their investment until the desired returns were met. Remarkably, this crypto whale owns approximately $4M worth of Ethereum, expecting further price increases. Additionally, other Ethereum whales are accumulating the token, suggesting a potential continued rally.

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2024-12-17 15:54