A whale or institution that profited from two previous ETH swings has purchased $127 million worth of ETH in the past six hours
Odaily Planet Daily News: According to on-chain analyst Ember, a whale/institution that previously made $30.45 million in profits from two ETH swing trades has, following today’s price drop, used $127 million USDC in the past six hours to buy the dip and acquire 48,800 ETH.
After making $30.45 million from two previous ETH swing trades, they began a third round of ETH purchases on the 11th, spending $46.494 million USDC to buy 16,500 ETH at that time.
Early this morning, ETH experienced a significant decline, and they continued to buy ETH. So far, they have transferred a total of $127 million USDC to Wintermute and Coinbase, purchasing 48,825 ETH and withdrawing it to their address. In other words, for this third round of ETH swing trading, they have spent a total of $174.1 million to buy 65,325 ETH at an average price of $2,665. They are currently in an unrealized loss position.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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