As the price of Ethereum (ETH) continues to rise, experienced traders are seizing the opportunity and igniting discussions about the next move in the cryptocurrency market. In a strategic move, a prominent investor with a successful track record in ETH trading took advantage of the recent price surge by selling a substantial amount of assets.
This skilled trader successfully sold all 2,850 ETH, amounting to an impressive $6.35 million, at an impressive price of $2,230 within the past six hours. This calculated maneuver resulted in a notable profit of approximately $457,000.
What’s remarkable is that this trader has participated in 25 transactions over the past year, emerging victorious in 20 of them. They consistently sold at higher prices than their initial purchase, accumulating a total profit exceeding $3 million.
This seasoned investor has an admirable trading history and the timing of this strategic cash-out aligns with Ethereum’s ascent to new heights in 2023, reaching levels not seen since May 9, 2022.
All eyes are now on Ethereum’s price. While the alternative currency has breached this threshold in a downward trajectory in the past, today’s path is undeniably upward.
It is also intriguing to interpret the successful trader’s decision to sell their positions at this pivotal moment. With their sights set on the next significant level, speculation looms as to whether ETH will reach $3,500. According to the investor’s perspective, the alternative currency has achieved its current objectives.
The question that now arises is whether we are on the verge of a correction or if the market has outperformed this seasoned whale. The cryptocurrency community eagerly awaits the unveiling of this high-risk story.
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