In a recent development, a giant cryptocurrency whale made large-scale moves in the Ethereum (ETH) market.
The trader withdrew 8,698 ETH from Binance, equivalent to $15.9 million, for $1,826 per ETH.
Interestingly, this move happened just six hours after the same whale deposited 31.8 million USDT to Binance. This sequence of events suggests that the whale may be strategically purchasing ETH. Just two days ago, Whale made a profit of $5.48 million by depositing ETH on Binance near its local peak.
The same whale appears to be really successful in trading ETH. Whale has traded ETH seven times so far and made a profit of $14.5 million. The success rate of the whale address in these transactions was recorded as 85.7%.
Almost always buying ETH low and selling high, the only time the whale lost was right before the ETH price was caught in a rather sudden bearish wave.
The whale's ETH address was: 0xb15485a37a1e6759f0dff1bdccfc27c2c96c8b2e
In addition, another important development on the Ethereum side took place on the Gate.io exchange. According to the Whale Alert platform, which tracks large cryptocurrency transfers, 15,000 ETH worth approximately $27.65 million was transferred to Gate.io from an unknown wallet. It was later understood that the transfer in question was an internal transfer of the stock exchange.
*This is not investment advice.