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<p>Like an ant, this institutional investor has alternated buying Ethereum at opportune times and has been rewarded handsomely. Indeed, since September, when ETH was trading between $1,500 and $1,600 per coin, this whale was able to amass a tidy sum of over 41,000 ETH. Imagine how much that is worth today, with ether valued at over $2,200.</p>
<h2 id="h-41-779-eth-in-this-whale-s-crypto-treasury">41,779 ETH in this whale’s crypto treasury</h2>
<p>The months of August and September were not a prosperous time for Ethereum investors. The ETH bull run was struggling to gain traction, nurturing <a href="https://www.cointribune.com/en/marche-dethereum-les-baleines-pessimistes-2/" target="_blank" rel="noopener noreferrer nofollow">pessimism among certain whales</a> fond of the second most important cryptocurrency on the market.</p>
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<p>However, for this institutional Ethereum investor, things played out differently.</p>
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     <p lang="en" dir="ltr">‘Giant Whale’ Accumulates 41,779 Ethereum (ETH) Worth $76,800,000 Since September: On-Chain Data<a href="https://t.co/XmDdRD6cFc" rel="noopener noreferrer nofollow">https://t.co/XmDdRD6cFc</a></p>— John Morgan (@johnmorganFL) <a href="https://twitter.com/johnmorganFL/status/1731665279724269964?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 4, 2023</a>
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  Accumulation of ETH over two months
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<p>According to <a href="https://dailyhodl.com/2023/12/04/giant-whale-accumulates-41779-ethereum-eth-worth-76800000-since-september-on-chain-data/" target="_blank" rel="noopener noreferrer nofollow">Daily Hodl</a>, this large entity has not stopped accumulating <strong>large quantities of ethers for two consecutive months</strong>. Lookonchain data indicate that the <strong>41,779 ETH, valued at $76.8 million</strong> at the time when the prince of cryptos was trading at $1,800, has allowed it to generate <strong>profits of over $13 million</strong>.</p>
<p><em>“This giant whale borrowed another 2 million DAI and bought 921 ETH at $2,171…</em></p>
<p><em><em>This whale has bought 41,779 ETH ($76.8 million) from Binance and DEX (decentralized exchange) since September 19, with an average buying price of ~$1,838.</em></em></p>
<p><em><em>The profit is ~$13.3 million at current price.”</em></em></p>
<p>According to Lookonchain, this giant whale did not hesitate to borrow DAI stablecoins to fuel its purchases. A wise decision, apparently, given the amount of profits earned since.</p> 
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<p>Note that at the time of writing this article, ether was trading at $2,224.85 per coin. This represents a 3% increase in just 24 hours: a rate that is not far from the 4% displayed by bitcoin, which had just broken through the $41,000 barrier.</p>

Crypto: This Ethereum Whale Has Accumulated Large Reserves!

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