Ethereum

Million

<p>An <a href="https://bitcoinist.com/ethereum-accumulation-in-top-gear/" rel="nofollow">Ethereum whale</a> was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale’s story again highlights how conviction in an <a href="https://bitcoinist.com/morgan-stanley-spot-bitcoin-etfs/" rel="nofollow">investment</a> can be very rewarding in the crypto space.&nbsp;</p> 
<h2 id="how-this-ethereum-whale-made-16-million-in-a-single-trade">How This Ethereum Whale Made $16 Million In A Single Trade</h2> 
<p><a href="https://bitcoinist.com/solana-meme-coin-traders/" rel="nofollow">On-chain analytics platform Lookonchain</a> revealed in an X (formerly Twitter) <a href="https://x.com/lookonchain/status/1787324001653789087" rel="nofollow">post</a> that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890 a year ago. With Ethereum currently trading at around $3,100, the whale’s ETH investment is now worth over $40 million, signifying a profit of about $16 million.&nbsp;</p> 
<p>Interestingly, his profits from this trade will likely be more than $16 million, as the trader deposited those tokens in the <a href="https://bitcoinist.com/flaw-ethereum-geth-devastating-lido-finance/" rel="nofollow">staking platform Lido</a> when he withdrew them from Binance last year. That means he also earned significant staking rewards to go alongside his $16 million profit.&nbsp;</p> 
<p>On-chain data shows the whale <a href="https://etherscan.io/address/0xc8d45cc670c6485f70528976d65f7603160be2cd" rel="nofollow">recently withdrew</a> 7,000 ETH ($21 million) from Lido back to Binance but has yet to offload these tokens. However, that is something to keep an eye on as the whale offloading those tokens could have a negative impact on Ethereum’s price.&nbsp;</p> 
<p>Tron’s founder, Justin Sun, looks to be another Ethereum whale that could make such significant returns on their ETH investment. Two wallets believed to belong to Sun are <a href="https://www.newsbtc.com/news/ethereum/ethereum-justin-sun-127388-eth/#:~:text=Sun%20Allegedly%20Buys%20%24405%20Million%20Worth%20Of%20ETH&amp;text=This%20wallet%20is%20said%20to,an%20average%20price%20of%20%243%2C127.&amp;text=Meanwhile%2C%20Lookonchain%20tried%20to%20prove,likely%20belonged%20to%20Justin%20Sun.">reported</a> to have accumulated 295,757 ETH ($891M) at an average price of $3,014 since February 12. Since then, Sun has made some notable moves that could be profitable for him.</p> 
<p>One such move is that the Tron founder <a href="https://bitcoinist.com/justin-sun-grabs-nearly-half-of-deposits-in-staking/" rel="nofollow">recently deposited</a> 120,000 eETH into Swell L2, a liquid restaking protocol. Although Sun claims that this move isn’t profit-motivated, he could still make huge profits from his venture, considering that restaking is one of the leading narratives at the moment.&nbsp;</p> 
<h2 id="the-bull-run-presenting-a-lot-of-opportunities">The Bull Run Presenting A Lot Of Opportunities</h2> 
<p>There have been a lot of <a href="https://bitcoinist.com/solana-meme-coin-traders/" rel="nofollow">reports</a> highlighting how crypto investors and traders have been making life-changing, which suggests that the bull run is already in full force despite Bitcoin’s <a href="https://bitcoinist.com/xrp-price-action-legal-expert/" rel="nofollow">unimpressive price action</a> lately. One opportunity that these traders have taken advantage of in this market cycle is <a href="https://bitcoinist.com/solana-meme-coins-myro-wif/" rel="nofollow">meme coins</a>.&nbsp;</p> 
<p>Before the bull run began, there was the belief that memes would be one of the leading narratives, and that has been the case. Bitcoinist <a href="https://bitcoinist.com/solana-meme-coin-traders/" rel="nofollow">recently reported</a> two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed a <a href="https://bitcoinist.com/solana-in-unprecedented-prime-condition/" rel="nofollow">Solana</a> trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, making a 144x return on his investment.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/f9Jq0jIM/" alt="Ethereum price chart from Tradingview.com" width="3286" height="1576"></p>

Here’s How This Ethereum Whale Made $16 Million From A Single Trade

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