Ethereum Alert: High Win Rate ETH Whale Eyes New Trading Opportunity After Experiencing First Loss
High win rate Ethereum whale transferred 6.3 million USDT to Binance, sparking speculation about new buying opportunities after a loss in August.
An astute Ethereum (ETH) whale with a high win rate, identified by the address 0xb15485a37a1e6759f0dff1bdccfc27c2c96c8b2e, transferred 6.3 million USDT back to Binance today, September 2, 2023, according to EmberCN, a crypto analysis Twitter account.
Source: ethplorer
This move has sparked speculation that the whale may be eyeing new buying opportunities. Known for a "buy low, sell high" strategy, the whale had been on a profitable streak since May 2023, successfully executing five trades before encountering a setback in August.
First Significant Loss
On August 14, 2023, the whale moved 22,340 ETH, valued at $41.1 million, into Binance and withdrew 12.88 million USDT just 20 minutes later. Following this transfer, the ETH price fell from $1,844 to $1,834.5, suggesting that the whale's ETH holdings were likely partially or fully sold.
The investor triggered a stop-loss at $1,840 per ETH, resulting in a liquidation of 22,340 ETH. This investment cycle lasted one and a half months and led to a loss of approximately $1.27 million, or 2.7%.
Source: etherscan
After the stop-loss was triggered, the ETH price continued to decline for three consecutive days, culminating in a significant crash on August 17, 2023, when ETH fell by over 14% in a single day. At the time of writing, the ETH price stands at around $1,635.
Previous Trading Records
On June 28, 2023, the whale transferred 25,000 ETH ($47.25 million) purchased between June 8-10 into Binance in the early morning, aiming to realize a profit of $2.05 million.
At 0:30, when ETH rose to $1,890, the transfer to Binance was made.
By 1:00, ETH had reached its peak and began to decline.
At 2:00, the whale withdrew 15.9 million USDT from Binance.
Image source: Shutterstock
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