The post Whales Capitalize on Ethereum Price Dip, Profiting $1.56 Million appeared on BitcoinEthereumNews.com.

Two seasoned Ethereum traders have successfully navigated the market after the latest Ethereum price drop, continuing their impressive track record. The whale associated with the wallet address 0xe0b5 has strategically executed eight swing trades since August 12, consistently buying Ethereum at lower prices and selling at higher ones, resulting in substantial gains. Most recently, the whale executed a significant buy order of 10,206 ETH, valued at $26.24 million, just three hours before the latest market update. This whale has shown remarkable proficiency in timing the market, achieving a 100% win rate in all trades conducted over the past month and a half. The cumulative profit from these eight trades has reached an impressive $1.56 million. Consistent Profits from Swing Trading The data from Lookonchain illustrates the whale’s systematic approach to swing trading, consistently buying Ethereum when its price dips and selling when the price recovers. On September 21, the whale sold 10,686 ETH for $26.23 million at a price of $2,455 per ETH, earning a profit of $530,492. The whale’s smallest recorded profit in this period was $40,712, highlighting their consistent performance even during smaller trades. Other profitable trades include buying 5,690 ETH on September 18 for $13.1 million, which was later sold for $13.1 million the following day, resulting in a $140,754 profit. The table of trades shows that the whale has been able to capitalize on fluctuations in Ethereum’s price by frequently adjusting their positions. For example, on September 6, the whale executed multiple trades involving 5,263 ETH and 5,153 ETH, resulting in profits of $248,429 and $130,453, respectively. This consistency in identifying price trends has allowed the whale to maintain a significant profit margin across all trades. This trading activity underscores the potential for strategic trading in volatile markets like Ethereum. By closely monitoring price movements and…

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Filed under: News - @ September 30, 2024 12:05 am