TL;DR
- Expert Swing Trader’s Latest Move: A highly successful swing trader with a perfect win rate has purchased 10,083 ETH worth $26.8 million, continuing a streak of profitable trades since August 12.
- Onchain Data Insights: Lookonchain reveals the trader’s consistent profitability by buying and selling ETH at opportune moments, with recent trades yielding significant profits.
- Market Speculation: The trader’s actions have sparked speculation about a potential bullish trend for ETH, despite a recent 1.5% price drop to around $2,600.
A highly successful swing trader, known for maintaining a perfect win rate, has once again made headlines by purchasing a significant amount of Ethereum (ETH). The trader recently acquired 10,083 ETH worth $26.8 million, continuing a streak of profitable trades that began on August 12.
This latest purchase comes after the trader made a total profit of approximately $2.14 million from ten ETH swing trades. The trader’s systematic approach to ETH swing trading has proven to be highly lucrative. On September 26, the trader made over $500,000 in profit by selling 10,206 ETH worth $27.8 million.
This was followed by another strategic purchase of 7,500 ETH worth $19.3 million on the same day. The trader’s ability to execute back-to-back profitable trades has garnered significant attention in the cryptocurrency community.
Onchain Data Reveals Trading Patterns
Lookonchain, a blockchain tracking service, has been closely monitoring the trader’s activities. The data reveals that the trader has consistently made profitable trades by buying and selling ETH at opportune moments.
This smart trader with a 100% win rate in swing trading $ETH bought 10,083 $ETH($26.8M) again 8 hours ago!
Since August 12, he has traded $ETH 10 times, making money every time, with a total profit of ~$2.14M!https://t.co/a80xVafIlu pic.twitter.com/BY8aXlSHir
— Lookonchain (@lookonchain) September 30, 2024
For instance, on August 12, the trader bought 9,844 ETH worth over $24.66 million and sold 4,818 ETH for $12.11 million on September 2, making a $40,700 profit in just three days.
Growing Popularity Among Whales
The trend of ETH swing trading is gaining traction among other large investors, commonly referred to as whales. Lookonchain’s data indicates that several whale addresses have also been engaging in similar trading activities. One notable example is a wallet that bought 11,529 ETH for $28.65 million on September 20 and sold it for a profit of approximately $1.5 million three days later.
Market Impact and Future Predictions
The trader’s latest purchase has sparked speculation about the potential impact on ETH prices. While the price of ETH had dropped by 1.5% to around $2,600 as of September 30, the continued interest from successful traders and whales could signal a bullish trend soon. Investors and market analysts will be closely watching the trader’s next moves to gauge the potential for further price surges.
