Here’s How Two Ethereum Whales Made Millions Swing Trading ETH Amid Volatility

Ethereum whales executed strategic trades, buying ETH during dips and selling on rallies to make significant profits.

Two Ethereum whales have recently captured attention for their profitable trading strategies, following ETH’s price drops.

On-chain data tracker Lookonchain reported that the whales, 0xe0b5 and 0xc08B, executed profitable swing trades, capitalizing on market fluctuations. 

Consistent Trading Strategy Drives Profits

Address 0xe0b5 has demonstrated a highly effective trading strategy, executing eight trades since August 12, 2024. The whale consistently bought low and sold high, resulting in a perfect win rate and total earnings of $1.56 million. 

Notably, the whale’s most profitable transaction occurred on September 21, 2024, when 10,686 ETH were sold at $2,455, yielding $530,492 in profit. The whale’s trades were characterized by timely entries and exits, often purchasing ETH during price declines and selling as prices rebounded. 

For instance, on September 17, 2024, the whale acquired 5,690 ETH at $2,279, later selling at $2,304 to gain $140,754. The latest purchase on September 26, 2024, involved 10,206 ETH bought at $2,571 per coin. It remains to be seen the total profit this trader will accrue in this investment, as Ethereum strives to recover from its previous losses.

Strategic Positioning and Market Timing

The second whale, with the address 0xc08B, also displayed a strategic trading approach. On September 20, 2024, this trader bought 11,529 ETH for $28.65 million at $2,485 each and sold three days later at $2,618, making approximately $1.5 million.

Other transactions included buying 8,000 ETH at a lower price earlier, reflecting a tactic of accumulating during downturns. 

Following this, the whale added 3,529 ETH to its holdings, suggesting confidence in further price gains. A significant sale occurred when 11,502 ETH were dumped at a higher price, capturing a substantial portion of the market’s upward movement.

After a minor price correction, the whale bought another 7,500 ETH, positioning itself for the next potential surge.

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Source: https://thecryptobasic.com/2024/09/26/heres-how-two-ethereum-whales-made-millions-swing-trading-eth-amid-volatility/?utm_source=rss&utm_medium=rss&utm_campaign=heres-how-two-ethereum-whales-made-millions-swing-trading-eth-amid-volatility