According to Ember monitoring data reported by COINOTAG on October 2, a significant transaction involving Ethereum (ETH) has been observed. An entity, either a whale or an institution, recently conducted a substantial withdrawal of 29,414 ETH from Coinbase at an average price of US$2,532, totaling approximately US$74.49 million. Subsequently, in a decisive move, this entity offloaded the remaining 7,000 ETH, equivalent to US$17.68 million, to Coinbase, eight hours ago. With an exit price of US$2,605 per ETH, the transaction netted a substantial profit of US$2.3 million. This strategic trading maneuver underscores the volatility and profit potential inherent in the cryptocurrency markets, highlighting the meticulous planning and precise execution by large-scale investors.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024