A whale who had previously excelled in Ethereum trades, earning a staggering $38M (+26.7%) from November 2022 to May 2024, has now suffered a significant loss.
The whale deposited 8,825 $ETH ($24.1M) to Binance, leaving behind 10,619 $ETH ($28.5M) with an estimated total loss of $15.7M (-23%) from their ongoing third Ethereum trade.
Market turbulence also hit smart traders hard!
11 hours ago, a whale deposited 8,825 $ETH ($24.1M) to #Binance, leaving behind 10,619 $ETH ($28.5M) with an est. total loss of $15.7M (-23%) from the ongoing 3rd $ETH trade.
This whale previously excelled, earning ~$38M (+26.7%)… https://t.co/QOjHO7b0Qx pic.twitter.com/uPGTPDSJVO
— Spot On Chain (@spotonchain) August 27, 2024
Regrettably, the whale missed the August 5 crash, which would have mitigated the loss. This setback highlights the unpredictable nature of the cryptocurrency market, where even experienced traders can face significant losses.
Ethereum’s Vitalik Makes Donation Of 199.9 ETH
In other news, Ethereum co-founder Vitalik Buterin has made a suspected donation of 199.9 ETH (worth approximately $517k) to the ethOS project, which claims to be the world’s first Ethereum mobile operating system.
Ethereum co-founder Vitalik Buterin transferred 199.9 ETH to the multi-signature contract: 0xC3…b72f at 22:25 UTC+8 today, worth about $517k, suspected to be a donation to the ethOS (Ethereum Phone) project. ethOS claims to be the world's first Ethereum mobile operating system.…
— Wu Blockchain (@WuBlockchain) August 27, 2024
Meanwhile, the Spot Ethereum ETF has experienced eight consecutive days of outflows, with a total net outflow of $13.228 million on August 26.
The Spot #Ethereum ETF has seen 8 consecutive days of outflows now. pic.twitter.com/xwzuziYJx2
— Crypto Rover (@rovercrc) August 27, 2024
Grayscale ETF ETHE saw an outflow of $9.5189 million, bringing the historical cumulative net outflow to $478 million. The total net asset value of Ethereum spot ETF stands at $7.457 billion.
On August 26, the total net outflow of Ethereum spot ETF was $13.228 million. Grayscale ETF ETHE had an outflow of $9.5189 million, and the current historical net outflow of ETHE is $2.542 billion. The total net asset value of Ethereum spot ETF is $7.457 billion, and the…
— Wu Blockchain (@WuBlockchain) August 27, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: gorodenkoff/123RF // Image Effects by Colorcinch
