The rise of Bitcoin (BTC) above $ 35,000 also mobilized altcoins. At this point, the largest altcoin Ethereum (ETH) also exceeded $ 1,900.
Whales started taking profits on ETH, which is now trading below $1,900.
At this point, Lookonchain said that the whale, which had been accumulating ETH at low levels since October, was selling and taking a profit.
Accordingly, the ETH whale sold 4,271 Ethereum for 8 million USDC and earned approximately $791,000.
Stating that this whale spent 32 million USDC since October 20 to buy 19,250 ETH at $ 1,662, Lookonchain said that the whale also purchased 5,972 ETH worth $ 10.6 million from Binance at $ 1,780.
Finally, Lookonchain underlined that the whale currently has 21,000 ETH worth $39.4 million.
“A whale sold 4,271 ETH for 8 million USDC at $1,875. The whale earned approximately $791,000 from this sale.
Whale has spent 32 million USDC since October 20 to purchase 19,250 ETH at $1,662. In the meantime, Whale bought 5,972 ETH (worth $10.6 million) from Binance for $780.
“The Ethereum whale currently has 21,000 Ethereum worth $39.4 million.”
At this stage, it remains unclear whether the whale will continue selling Ethereum, while ETH is traded at $ 1,892 at the time of writing.
— Lookonchain (@lookonchain) November 6, 2023
*This is not investment advice.