An Ethereum whale made a profit of 7.6 million USD after holding 6,918 ETH bought last November for 9 months.
This whale wallet just transferred 2,501 ETH worth about 11.71 million USD to Binance, indicating a trading signal or portfolio restructuring after a long period of accumulation.
MAIN CONTENT
ETH whales bought 6,918 ETH at 3,613 USD/ETH last November.
After 9 months of holding, transferred 2,501 ETH worth 11.71 million USD to Binance.
Current profit on ETH is 7.6 million USD.
How have Ethereum whales traded over the past year?
Based on tracking data from Ember, an ETH whale with the address 0xe42…08A purchased 6,918 ETH at an average price of 3,613 USD/ETH last November. This is a significant investment for the cryptocurrency market.
Holding ETH for 9 months demonstrates a long-term investment strategy. Recently, this whale transferred 2,501 ETH to Binance, estimated to be worth around 11.71 million USD at current market prices. This could be a sign of an upcoming trade, restructuring, or exiting a position.
This action reflects the trend of large investors reallocating assets when achieving high profits, while also having a considerable impact on Ethereum's liquidity across exchanges.
How did Ethereum whales achieve profits of up to 7.6 million USD?
The profits of ETH whales come from buying ETH at an average price of 3,613 USD/ETH and holding for 9 months, when the market price increased significantly. Transferring 2,501 ETH to the exchange equivalent to about 11.71 million USD helps this whale realize part of its profit.
Such a large profit demonstrates the power of long-term investment in cryptocurrencies with strong growth potential.
Cryptocurrency market analyst, 2024
The HODL strategy in cryptocurrency, especially with ETH, has repeatedly proven its value when assets experience significant growth. Transferring ETH to an exchange may also aim to diversify the portfolio or prepare for new trades.
How does transferring ETH to Binance impact the market?
Transferring 2,501 ETH worth over 11 million USD to a centralized exchange can affect liquidity as well as selling pressure in the market, especially if the whale decides to sell part of this amount.
However, transferring assets to an exchange is often aimed at seizing trading opportunities or providing liquidity for other investment strategies. Therefore, it cannot be definitively stated that the whale will sell immediately after transferring funds.
Whale movements are always closely monitored by the community as they can cause significant fluctuations in the cryptocurrency market, especially during periods of high price volatility.
What lessons can be learned from the actions of this Ethereum whale?
Buying at a reasonable price and holding assets for the long term helps whales take advantage of price growth, demonstrating effective investment vision and discipline.
Transferring part of assets to an exchange to change investment strategy or realize profits is a common action among large investors to protect capital and prepare for new opportunities.
The important lesson is to closely monitor signals from whales as they often lead trends and influence cryptocurrency market fluctuations.
Frequently Asked Questions
Who are Ethereum whales and why are they important?
Ethereum whales are wallets that hold large amounts of ETH, significantly impacting the market due to large buy/sell power, often leading to price and liquidity fluctuations.
How to know if a wallet is an Ethereum whale?
Based on the amount of ETH held in the wallet; wallets with thousands to tens of thousands of ETH are often considered whales in the market.
Does transferring ETH to an exchange mean it will be sold?
Not necessarily; it can be for trading, staking, or diversifying, but it also warns of the possibility of selling if the market fluctuates.
How is the profit of 7.6 million USD calculated?
Based on the initial purchase price (3,613 USD/ETH) and the current transfer value on the exchange, minus costs and taxes (if any).
How do Ethereum whales impact personal investment strategies?
It's advisable to monitor activities to predict market fluctuations; however, one should not replicate exactly, to avoid risks from extreme volatility.
Source: https://tintucbitcoin.com/ca-voi-ethereum-thu-loi-trieu-do/
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