Massive Altcoin Whale Misses Out on $42.64 Million in Profits – Bought High, Sold Low, Here Are the Trades It Made

One of the common strategic mistakes in the cryptocurrency market caused a whale address to come to the fore with Ethereum transactions. According to on-chain data, this whale address missed out on a potential profit of $42.64 million in total by “buying high and selling low.” The address in question sold 50,754 ETH at $1,754 on April 23, earning 89.03 million USDT. It was reported that 15,000 of these ETH were used to open a short position with borrowed assets. However, 27 days later, this USDT amount was only able to buy 34,343 ETH at $2,592. Thus, the investor suffered a loss of 16,452 ETH. The 35,754 ETH he initially owned fell to 19,302 ETH after the transaction. Related News: The Big Day Has Arrived: FTX’s $5 Billion Payments Are Beginning – Here Are the Official Statements When compared to today’s market value of these transactions, the loss becomes even clearer. The 19,302 ETH in his hand is currently worth approximately $5004 million, while the current value of the 35,754 ETH he had before the transaction is $92.69 million. The difference indicates a loss of $42.64 million. Meanwhile, institutional interest in Ethereum continues to grow. According to Farside data, US spot Ethereum ETFs have recorded net inflows for nine consecutive trading days, attracting a total of $486 million in capital. *This is not investment advice. Continue Reading: Massive Altcoin Whale Misses Out on $42.64 Million in Profits – Bought High, Sold Low, Here Are the Trades It Made

Source: BitcoinSistemi