{"id":548097,"date":"2023-08-19T22:00:47","date_gmt":"2023-08-19T22:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=548097"},"modified":"2023-08-19T16:28:07","modified_gmt":"2023-08-19T16:28:07","slug":"ethereum-whale-avoids-market-crash","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-whale-avoids-market-crash\/","title":{"rendered":"Ethereum Whale Avoids Market Crash, Do They Know Something You Don’t?"},"content":{"rendered":"
While the broader cryptocurrency market recently took a nosedive, some mysterious Ethereum whale successfully escaped with $41 million worth of ETH. Days later, the price of ETH went down, along with BTC and other cryptocurrencies. Did this whale know something the rest of the market didn’t?<\/span><\/p>\n In the early hours of August 18, the crypto market saw investors <\/span>reacting to<\/span><\/a> SpaceX selling its $373 million Bitcoin holdings, pushing down Bitcoin by more than 8% in a matter of minutes. During this period, the crypto market cap dropped to $1.1 trillion,\u00a0 and Ethereum also saw its value plummet by almost 6%.\u00a0<\/span><\/p>\n On-chain <\/span>data provided<\/span><\/a> by Lookonchain reveals that a smart Ethereum whale dumped 22,341 ETH worth $41 million just prior on August 14. On-chain investigation shows that the whale moved their ETH holdings to the Binance exchange and then withdrew $41 million worth of Tether USDT.<\/span><\/p>\n While this whale still made a loss of $1.7 million in the sale, if they hadn’t moved their funds, they would have lost at least $5 million in the crash.\u00a0<\/span><\/p>\n The whale was very smart and dumped 22,341 $ETH<\/a> ($41M) before the market crashed.<\/p>\n Even though he lost ~$1.7M this time, he successfully avoided the market crash.<\/p>\n Perhaps he will buy $ETH<\/a> back at a cheaper price in the future.<\/p>\n Follow this smart whale.\ud83d\udc47https:\/\/t.co\/S4Wv8XRlhW<\/a> pic.twitter.com\/BcdzdpmbIA<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) August 18, 2023<\/a><\/p><\/blockquote>\n Coincidentally, this isn’t the first time this trader has made headline trades. This savvy Ethereum whale has shown signs of being able to predict market movements before and has had a 100% winning rate in recent months.\u00a0<\/span><\/p>\n The whale profited from the SEC and Spot Bitcoin ETFs saga. When ETH plummeted in reaction to news of the SEC rejecting spot Bitcoin applications from BlackRock and other investment companies, this whale saw this as an opportunity to buy the dip on June 30.\u00a0<\/span><\/p>\n They <\/span>bought<\/span><\/a> 8,188 ETH worth $15.23 million at $1,860 per ETH, and ETH would later rise to $1948.60 in the hours after.<\/span><\/p>\n A smart whale deposited 25K $ETH<\/a> ($47.24M) to #Binance<\/a> and withdrew 15.9M $USDT<\/a> 12 hrs ago.<\/p>\n The whale is very good at buying $ETH<\/a> at low prices and selling at high prices to make a profit.<\/p>\n He has a 100% win rate of trading $ETH<\/a> in the past 2 months.https:\/\/t.co\/dT9p6jeCtr<\/a> pic.twitter.com\/pTuJAwL81O<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) June 28, 2023<\/a><\/p><\/blockquote>\n While we can’t know for sure if whales have access to insider information, their actions are worth paying attention to. It could be that this whale knew something was going to trigger a price crash or was just making the right trading decision at the right time.\u00a0<\/span><\/p>\nEthereum Whale Sells $41 Million Before Market Crash<\/h2>\n
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Do Whales Sometimes Have Insider Knowledge?<\/h2>\n