Ethereum (ETH), which has been notable for its underperformance against Bitcoin (BTC) for a long time, finally made the expected move and started to rise.
Ethereum, which rose above $2,500 in a very short time, also pleased its investors.
According to a post by blockchain analytics firm Lookonchain, a major crypto whale opened a 2x long position in Ethereum on May 8 at an entry price of $1,930.41, before ETH began its rally.
As the price continued to rise, the whale added to his position, making over $10 million in unrealized profits in about three days.
This successful operation by the whale appears to have set the stage for the next strategic step.
Because the giant whale has now focused on XRP and opened a long position in XRP with 2x leverage worth approximately $12 million.
“The whale went long on ETH right at the beginning of its rally and currently has an unrealized profit of over $10 million.
Today he opened a new 2x long on XRP with a position of approximately $12 million and an unrealized profit of $261k.”
While the giant whale expects a rise in XRP, on-chain analyst Ali Martinez also stated that whales accumulated 880 million XRP last month.
*This is not investment advice.
