Ethereum

bullish

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-profits-from-ethereum-sales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Profits from Ethereum Sales</a><br></p>
<p style="text-align: justify">A significant event unfolded in the altcoin market as a prominent Ethereum (ETH) whale, recognized as a “diamond hand” for their long-term holding strategy, sold a sizable portion of their ETH assets. Blockchain analysis platform Lookonchain reported that this whale offloaded 15,000 ETH recently, marking a notable transaction.</p>
<h2 id="what-led-to-the-whale-s-profit">What Led to the Whale’s Profit?</h2>
<p style="text-align: justify">In September 2022, during a bear market, the whale acquired 96,639 ETH at $1,567 per coin, withdrawing these assets from Coinbase. Known for their steadfast investment approach, the whale held onto this substantial amount until the <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> shifted favorably. As the crypto market experienced a bull run starting in March 2024, ETH prices surged, prompting the whale to capitalize on their investment.</p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/strategic-acquisitions-by-bitcoin-whales-signal-market-optimism" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> reaching close to $74,000 and ETH surpassing $4,000 marked a profitable period for the whale. According to Lookonchain, the investor sold 55,000 ETH at $3,199 each, totaling $176 million. This strategic move resulted in a gross profit of around $132 million. Post-sale, the whale’s holdings now stand at 41,639 ETH, valued at approximately $107 million.</p>
<h2 id="how-is-ethereum-performing-now">How Is Ethereum Performing Now?</h2>
<p style="text-align: justify">Ethereum’s price has been volatile, recently recovering from the $2,500 support level but struggling to breach the $2,700 mark. Currently trading at $2,572, ETH has dropped 3.45% in the past 24 hours. If the downward trend persists, ETH could fall below $2,500, potentially reaching $2,309, where bulls may attempt to stabilize the price again.</p>
<p style="text-align: justify">Conversely, if buyers succeed in pushing ETH above $2,690, the price might climb to $2,850, encountering selling pressure. A breakthrough above the 50 and 200-day simple moving averages, at $3,000 and $3,246 respectively, could signal the onset of a new uptrend.</p>
<h2 id="investment-insights">Investment Insights</h2>
<p style="text-align: justify">– Short-term market fluctuations can present substantial profit opportunities.<br> – Monitoring whale activities can provide insights into market movements.<br> – Long-term holding strategies can be advantageous during extended bullish periods.<br> – Key support and resistance levels are critical for trading decisions.</p>
<p style="text-align: justify">In summary, the Ethereum whale’s strategic sell-off has not only realized significant profit but also sparked market discussions on ETH’s trajectory. Investors and traders will closely watch these developments to gauge <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> market trends.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-profits-from-ethereum-sales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Profits from Ethereum Sales</a></h5>

Whale Profits from Ethereum Sales

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