A large investor with a track record of successfully trading Ethereum (ETH) made a calculated move to profit on the recent price increase by selling a sizeable portion of holdings.
According to Lookonchain, in the last six hours, this skilled trader has sold all 2,850 ETH for an astounding $6.35 million at a price of $2,230. The well-thought-out move brought in a notable profit of almost $457,000.
With a stellar record of 25 trades in the last year, this seasoned investor is a credit to the ETH trading community. The trader made a total profit of more than $3 million, winning 20 of these deals and continuously selling at a price higher than when they were first purchased.
This calculated move to sell into cash comes at the same time as ETH soars to unprecedented heights in 2023—highs not seen since May 9, 2022.
All eyes on Ethereum price
At now, Ethereum has reached a significant peak of $2,250 in price. It matters that although the cryptocurrency has crossed this level in the past with a falling track, its current trajectory is unquestionably upward.
There is conjecture on Ethereum’s potential to surpass the $3,500 mark as the price approaches a crucial milestone. The interpretation of the profitable trader’s choice to liquidate holdings at this critical juncture is equally fascinating. From an investor’s point of view, the altcoin has achieved its existing goals.
Now, the issue is: has the market outperformed this experienced whale, or are we about to see a correction? The cryptocurrency community is eager to see how this high-stakes story plays out.
