A cryptocurrency investor became a $ 125,000 stake in a multimillion-dollar trading trading ether in a decentralized exchange, even though the whales began to lock in the acquisitions after a recent rally.
The Savvy businessman became an initial investment of $ 125,000 to over $ 43 million in its climax in just four months before the latest market collapse hit its ether (Eth) long position.
Despite the collapse of the market, the businessman closed all his positions, locking a net income of $ 6.86 million on Monday, forming a wonderful 55-fold return to his initial investment, According to To blockchain data platform lookonchain.
After depositing the initial $ 125,000 to the Decentralized exchange Hyperliquid, the businessman “well combined his income, rolling every dollar available to his $ eth long to produce a massive” $ 303 million position, Lookonchain said a week x x Post.
The patterns of the transaction of whales, or large investors.
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The moving whales and the flow of ETF
Going on the last weekend, the US Spot Ether Exchange-Traded Funds (ETFS) saw a $ 59 million flow of flow on Friday, interrupted on eight consecutive days of net positive outflow, faride investors Data Shut up.
Following the ETF flows on Friday, more ether whales began to lock the income in hopes of a potential correction in the residue of the August period.
On Monday, the purse labeled “0x806,” one of the top 100 ether traders monitored by Nansen, selling more than $ 9.7 million worth of ether-the second largest ether’s sale in the past 24 hours-from from Nansen Shut up.
Another top 100 entrepreneurs, the wallet “0x34F,” also sells $ 1.29 million worth of ether, and many other whales sell millions of worth of the second largest cryptocurrency in the world.
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“Ethereum’s strong running invited some income extraction, which could limit the immediate reversed momentum and instead set the stage for integration,” said Ryan Lee, chief analyst at the Bitget Exchange.
Bitcoin (Btc) and the Ether remains “vulnerable to sharper swings in any transfer of emotion,” because of the growing open interest that describes the amount of action in the current market environment, Lee told the cointelegraph.
Investors should be careful around any “hawk” from the US Federal Reserve or a delay in expected cutting rates, which remains mainly crypto market drivers, Lee added.
Markets are pricing on an 82% chance that the Fed will keep interest rates stable at the next meeting of the Federal Open Market Committee on September 17, According to In the latest estimates of the Fedwatch tool of the CME Group.
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