Ann ethereum whale was recently revealed to have made $16 million in a single trade involving the second-largest crypto token by market capitalization. This whale story once again highlights the importance of criminal convictions. investment It can be very rewarding in the crypto space.

How this Ethereum whale made $16 million in one trade

On-chain analytics platform Lookonchain Revealed on X (formerly Twitter) post A year ago, Whale reportedly withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890. Ethereum is currently trading at around $3,100, so Whale’s ETH investment is now worth more than $40 million, implying a gain of around $16 million.

Interestingly, traders are using those tokens as Staking platform Lido When he pulled them from Binance last year. This means that on top of his $16 million profit, he also earned a hefty staking reward.

On-chain data shows whales recently withdrew 7,000 ETH ($21 million) was transferred back to Binance from Lido, but these tokens have not yet been offloaded. However, this should be done with caution as whales offloading these tokens could negatively impact the price of Ethereum.

Tron founder Justin Sun looks like another Ethereum whale with the potential to generate such huge returns from his ETH investments. Here are his two wallets that appear to belong to Sun: report Since February 12th, it has accumulated 295,757 ETH ($891 million) at an average price of $3,014. Since then, Sun has made some notable moves that could pay dividends.

One such movement is the founders of Tron. Recently deposited 120,000 eETH to Swell L2 (Liquid Restaking Protocol). Although Sun claims this move is not aimed at profit, he still stands to make huge profits from this business, given that restaking is one of the leading stories at the moment. there is a possibility.

A bull market that brings many opportunities

There were many report It highlights how crypto investors and traders have changed their lives and suggests that despite Bitcoin’s decline, the bull market is already in full swing. Unimpressive price movements recently. One of the opportunities these traders have taken advantage of during this market cycle is: meme coin.

Before the bull market began, it was believed that memes would be one of the dominant narratives, and they have been.Bitcoinist recently reported Two Solana Meme Coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed: Solana He is a trader who turned 60 SOL ($8,673) into $1.26 million in two months, achieving a 144x return on investment.

ETH price sees sharp drop | Source: ETHUSD on Tradingview.com

Featured image from Reddit, chart from Tradingview.com

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