Hacker '0x17E0' sold nearly 5,000 ETH during the market downturn.
About 5 hours ago, this individual sold 4,958 ETH at a price of 4,463 USD/ETH, earning over 9.75 million USD in profit amidst a declining cryptocurrency market.
MAIN CONTENT
Hacker '0x17E0' sold 4,958 ETH, equivalent to 22.13 million USD.
The transaction took place during a cryptocurrency market downturn.
The approximate profit gained after the transaction is nearly 9.75 million USD.
What transactions has hacker '0x17E0' conducted in the cryptocurrency market?
Hacker '0x17E0' sold 4,958 ETH in the past 5 hours, at a selling price of 4,463 USD per ETH, seizing the opportunity in the declining market.
This transaction was recorded by the blockchain monitoring tool Lookonchain. With a total sale value of ETH reaching 22.13 million USD, the hacker realized an actual profit of about 9.75 million USD, demonstrating sharpness during strong market fluctuations.
Why does the hacker's sell-off matter in the cryptocurrency market?
The hacker '0x17E0' selling off a large amount of ETH reflects panic sentiment during the recent price drop, while directly affecting liquidity and price volatility.
Such large-scale transactions indicate that many individuals or organizations may take advantage of adverse volatility to lock in profits, while also warning investors of the risks faced when encountering unforeseen market fluctuations.
"The quick actions of such large individuals in the cryptocurrency market always have a significant impact on liquidity and price trends."
Phan Minh Tuan, Cryptocurrency Financial Expert, 2024
What are the impacts and lessons learned from this transaction?
The transactions of hacker '0x17E0' highlight the importance of risk management strategies and vigilance during periods of strong market volatility.
This also serves as a warning for investors to monitor large on-chain transactions to anticipate market changes early and avoid being negatively affected by the actions of whales or hackers.
Frequently Asked Questions
1. Will the hacker's transactions have a long-term impact on the price of ETH?
Large-scale transactions can create short-term pressure, but the price of ETH is influenced by various factors in the market.
2. How can investors track the transactions of whales or hackers?
Blockchain monitoring platforms like Lookonchain help investors track and analyze large on-chain transactions, enhancing their ability to predict volatility.
3. Does the profit realized from this transaction reflect the hacker's actual income?
The profit of nearly 9.75 million USD is based on the current selling price, but the final profit also depends on other factors such as transaction fees and subsequent market volatility.
Source: https://tintucbitcoin.com/0x17e0-panic-sell-4-958-eth-loi-9-75-trieu-usd/
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