{"id":606883,"date":"2024-05-07T15:00:32","date_gmt":"2024-05-07T15:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=606883"},"modified":"2024-05-07T10:47:33","modified_gmt":"2024-05-07T10:47:33","slug":"ethereum-whale-made-16-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-whale-made-16-million\/","title":{"rendered":"Here\u2019s How This Ethereum Whale Made $16 Million From A Single Trade"},"content":{"rendered":"<p><span style=\"font-weight: 400\">An <\/span><a href=\"https:\/\/bitcoinist.com\/ethereum-accumulation-in-top-gear\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ethereum whale<\/span><\/a><span style=\"font-weight: 400\"> was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale\u2019s story again highlights how conviction in an <\/span><a href=\"https:\/\/bitcoinist.com\/morgan-stanley-spot-bitcoin-etfs\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">investment<\/span><\/a><span style=\"font-weight: 400\"> can be very rewarding in the crypto space.\u00a0<\/span><\/p>\n<h2>How This Ethereum Whale Made $16 Million In A Single Trade<\/h2>\n<p><a href=\"https:\/\/bitcoinist.com\/solana-meme-coin-traders\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">On-chain analytics platform Lookonchain<\/span><\/a><span style=\"font-weight: 400\"> revealed in an X (formerly Twitter) <\/span><a href=\"https:\/\/x.com\/lookonchain\/status\/53789087\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> 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\u2019s ETH investment is now worth over $40 million, signifying a profit of about $16 million.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-price-massive-surge\/\">Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here\u2019s The Target<\/a><\/div>\n<p><span style=\"font-weight: 400\">Interestingly, his profits from this trade will likely be more than $16 million, as the trader deposited those tokens in the <\/span><a href=\"https:\/\/bitcoinist.com\/flaw-ethereum-geth-devastating-lido-finance\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">staking platform Lido<\/span><\/a><span style=\"font-weight: 400\"> when he withdrew them from Binance last year. That means he also earned significant staking rewards to go alongside his $16 million profit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On-chain data shows the whale <\/span><a href=\"https:\/\/etherscan.io\/address\/0xc8d45cc670c6485f70528976d65f7603160be2cd\" rel=\"nofollow\"><span style=\"font-weight: 400\">recently withdrew<\/span><\/a><span style=\"font-weight: 400\"> 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\u2019s price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Tron\u2019s 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 <\/span><a href=\"https:\/\/uniquehot.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.\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\"> 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.<\/span><\/p>\n<p><span style=\"font-weight: 400\">One such move is that the Tron founder <\/span><a href=\"https:\/\/bitcoinist.com\/justin-sun-grabs-nearly-half-of-deposits-in-staking\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">recently deposited<\/span><\/a><span style=\"font-weight: 400\"> 120,000 eETH into Swell L2, a liquid restaking protocol. Although Sun claims that this move isn\u2019t profit-motivated, he could still make huge profits from his venture, considering that restaking is one of the leading narratives at the moment.\u00a0<\/span><\/p>\n<h2>The Bull Run Presenting A Lot Of Opportunities<\/h2>\n<p><span style=\"font-weight: 400\">There have been a lot of <\/span><a href=\"https:\/\/bitcoinist.com\/solana-meme-coin-traders\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">reports<\/span><\/a><span style=\"font-weight: 400\"> highlighting how crypto investors and traders have been making life-changing, which suggests that the bull run is already in full force despite Bitcoin\u2019s <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-action-legal-expert\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">unimpressive price action<\/span><\/a><span style=\"font-weight: 400\"> lately. One opportunity that these traders have taken advantage of in this market cycle is <\/span><a href=\"https:\/\/bitcoinist.com\/solana-meme-coins-myro-wif\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">meme coins<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-at-prime-buy-zone\/\">Here\u2019s Why This Crypto Analyst Believes Bitcoin Is At A \u2018Prime Buy Zone\u2019<\/a><\/div>\n<p><span style=\"font-weight: 400\">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 <\/span><a href=\"https:\/\/bitcoinist.com\/solana-meme-coin-traders\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">recently reported<\/span><\/a><span style=\"font-weight: 400\"> two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed a <\/span><a href=\"https:\/\/bitcoinist.com\/solana-in-unprecedented-prime-condition\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Solana<\/span><\/a><span style=\"font-weight: 400\"> trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, making a 144x return on his investment.\u00a0<\/span><\/p>\n<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>\n<pre style=\"text-align: center\">ETH price sees sharp drop | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ETHUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Reddit, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>An Ethereum whale was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whale\u2019s story again highlights how conviction in an investment can be very rewarding in the crypto space.\u00a0 How This Ethereum Whale Made $16 Million In A Single Trade On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post 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\u2019s ETH investment is now worth over $40 million, signifying a profit of about $16 million.\u00a0 Related Reading: Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here\u2019s The Target Interestingly, his profits from this trade will likely be more than $16 million, as the trader deposited those tokens in the staking platform Lido when he withdrew them from Binance last year. That means he also earned significant staking rewards to go alongside his $16 million profit.\u00a0 On-chain data shows the whale recently withdrew 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\u2019s price.\u00a0 Tron\u2019s 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 reported 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. One such move is that the Tron founder recently deposited 120,000 eETH into Swell L2, a liquid restaking protocol. Although Sun claims that this move isn\u2019t profit-motivated, he could still make huge profits from his venture, considering that restaking is one of the leading narratives at the moment.\u00a0 The Bull Run Presenting A Lot Of Opportunities There have been a lot of reports highlighting how crypto investors and traders have been making life-changing, which suggests that the bull run is already in full force despite Bitcoin\u2019s unimpressive price action lately. One opportunity that these traders have taken advantage of in this market cycle is meme coins.\u00a0 Related Reading: Here\u2019s Why This Crypto Analyst Believes Bitcoin Is At A \u2018Prime Buy Zone\u2019 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 recently reported two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed a Solana trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, making a 144x return on his investment.\u00a0 ETH price sees sharp drop | Source: ETHUSD on Tradingview.com Featured image from Reddit, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":606913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,6931,85569,8686,78803,14896,89615],"class_list":["post-606883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethereum-whale","tag-ethusd","tag-ethusdt","tag-whale","tag-whale-news"],"acf":[],"yoast_head":"\n<title>Here\u2019s How This Ethereum Whale Made 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