- An Ethereum whale recently made a staggering $16 million from a single trade, once again demonstrating the lucrative potential of the crypto market.
- The whale withdrew 12,906 ETH from Binance a year ago when Ethereum was trading at $1,890 and has now seen a significant return on investment with Ethereum’s current trading price around $3,100.
- Notably, the whale also deposited the tokens into the staking platform Lido, earning significant staking rewards in addition to the $16 million profit.
Discover how an Ethereum whale made a whopping $16 million from a single trade and learn about the lucrative opportunities in the current crypto bull run.
The Ethereum Whale’s Profitable Trade
On-chain analytics platform Lookonchain revealed that the Ethereum 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. The whale also deposited these tokens into the staking platform Lido, earning significant staking rewards in addition to the profit from the trade.
Monitoring the Whale’s Moves
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. This is a situation to monitor as the whale offloading those tokens could potentially impact Ethereum’s price negatively. Tron’s founder, Justin Sun, another Ethereum whale, has also made significant moves that could yield substantial returns on his ETH investment.
Opportunities in the Current Bull Run
There have been numerous reports of crypto investors and traders making life-changing profits, suggesting that the bull run is in full swing despite Bitcoin’s recent unimpressive price action. One opportunity that traders have capitalized on in this market cycle is meme coins. For instance, two Solana meme coin traders turned $6,400 into $8 million, while another Solana trader turned 60 SOL ($8,673) into $1.26 million in just two months, making a 144x return on his investment.
Conclusion
The story of the Ethereum whale making $16 million from a single trade highlights the lucrative opportunities in the crypto market. As the current bull run continues, investors and traders are capitalizing on various opportunities, including meme coins, to make significant profits. However, it’s crucial to monitor the moves of large players like whales, as their actions can significantly impact market prices.
