Whale, which has been accumulating in this altcoin since October, has started selling profits!

The rise of Bitcoin (BTC) above $ 35,000 also mobilized altcoins. At this point, the largest altcoin Ethereum (ETH) also exceeded $ 1,900.

Whales started taking profits on ETH, which is now trading below $1,900.

At this point, Lookonchain said that the whale, which had been accumulating ETH at low levels since October, was selling and taking a profit.

Accordingly, the ETH whale sold 4,271 Ethereum for 8 million USDC and earned approximately $791,000.

Stating that this whale spent 32 million USDC since October 20 to buy 19,250 ETH at $ 1,662, Lookonchain said that the whale also purchased 5,972 ETH worth $ 10.6 million from Binance at $ 1,780.

Finally, Lookonchain underlined that the whale currently has 21,000 ETH worth $39.4 million.

“A whale sold 4,271 ETH for 8 million USDC at $1,875. The whale earned approximately $791,000 from this sale.

Whale has spent 32 million USDC since October 20 to purchase 19,250 ETH at $1,662. In the meantime, Whale bought 5,972 ETH (worth $10.6 million) from Binance for $780.

“The Ethereum whale currently has 21,000 Ethereum worth $39.4 million.”

At this stage, it remains unclear whether the whale will continue selling Ethereum, while ETH is traded at $ 1,892 at the time of writing.

A whale sold 4,271 $ETH for 8M $USDC at $1,875 20 mins ago and made ~$791K.

The whale spent 32M $USDC to buy 19,250 $ETH at $1,662 and withdrew 5,972 $ETH($10.6M) at $1,780 from #Binance since Oct 20.

The whale currently holds 21K $ETH($39.4M).https://t.co/2mjYrbrOFM pic.twitter.com/JD8bZRl5k8

— Lookonchain (@lookonchain) November 6, 2023

*This is not investment advice.

Source