Here’s How This Ethereum Whale Made $16 Million From A Single Trade

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,317,541,068,791	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,317,541,068,791

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	198.48	0.30%	67,139.14	67,139.14	67,139.15

Price Change

Price Change %

Current Price

Bid Price

Offer

198.48

0.30%

67,139.14

67,139.15

High Price	Low Price	Open Price	Prev. Close	52 Week Range
67,701.91	66,690.00	66,985.55	66,940.66	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

67,701.91

66,690.00

66,985.55

66,940.66

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	15:21:29	0.003190	67,128.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

15:21:29

0.003190

67,128.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
162,201,022.98	2,415.05	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

162,201,022.98

2,415.05

Here’s How This Ethereum Whale Made $16 Million From A Single Trade

07/05/2024 4:00pm

NEWSBTC

An Ethereum whale was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale’s story again highlights how conviction in an investment can be very rewarding in the crypto space. How This Ethereum Whale Made $16 Million In A Single Trade On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890 a year ago. With Ethereum currently trading at around $3,100, the whale’s ETH investment is now worth over $40 million, signifying a profit of about $16 million. Related Reading: Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target Interestingly, his profits from this trade will likely be more than $16 million, as the trader deposited those tokens in the staking platform Lido when he withdrew them from Binance last year. That means he also earned significant staking rewards to go alongside his $16 million profit. On-chain data shows the whale recently withdrew 7,000 ETH ($21 million) from Lido back to Binance but has yet to offload these tokens. However, that is something to keep an eye on as the whale offloading those tokens could have a negative impact on Ethereum’s price. Tron’s founder, Justin Sun, looks to be another Ethereum whale that could make such significant returns on their ETH investment. Two wallets believed to belong to Sun are reported to have accumulated 295,757 ETH ($891M) at an average price of $3,014 since February 12. Since then, Sun has made some notable moves that could be profitable for him. One such move is that the Tron founder recently deposited 120,000 eETH into Swell L2, a liquid restaking protocol. Although Sun claims that this move isn’t profit-motivated, he could still make huge profits from his venture, considering that restaking is one of the leading narratives at the moment. The Bull Run Presenting A Lot Of Opportunities There have been a lot of reports highlighting how crypto investors and traders have been making life-changing, which suggests that the bull run is already in full force despite Bitcoin’s unimpressive price action lately. One opportunity that these traders have taken advantage of in this market cycle is meme coins. Related Reading: Here’s Why This Crypto Analyst Believes Bitcoin Is At A ‘Prime Buy Zone’ Before the bull run began, there was the belief that memes would be one of the leading narratives, and that has been the case. Bitcoinist recently reported two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed a Solana trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, making a 144x return on his investment. ETH price sees sharp drop | Source: ETHUSD on Tradingview.com Featured image from Reddit, chart from Tradingview.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin