YEREVAN (CoinChapter.com) — An Ethereum whale has taken advantage of the ongoing Ethereum price surge, making $554,000 profit in just one day. Ethereum has risen above the $2,600 level, allowing skilled traders to capitalize on the volatility. According to a post from Lookonchain, this Ethereum whale has executed nine flawless trades with a 100% win rate, earning $2.11 million over the past few weeks.
The most recent and profitable trade occurred on September 26, when the trader bought 10,206 ETH tokens for $26.2 million. Within the same day, he sold them for $27.8 million, securing a hefty profit of $554,000. This series of successful trades started on August 12, when the whale initially gained $40,712.
Strategic Ethereum Trading Profits. Source: Lookonchain Ethereum Whale Trading Strategy Pays Off
This whale has consistently made profitable trades by purchasing Ethereum at lower prices and selling during market rallies. His nine trades, which began in August, have contributed to his $2.11 million total profit. The Ethereum whale has gained attention within the crypto community, with some traders on X copy-trading his moves, hoping to replicate his success.
It appears that the Ethereum whale’s strategy focuses on timing rather than speculation.
Ethereum Market Recovery Crosses $2,600
Ethereum’s price is recovering after falling to $2,171 earlier this month. In the past week, it has risen by 4.35%. Just in the last 24 hours, the price climbed by 2%, surpassing the $2,600 mark. This uptick has spurred a significant increase in trading activity. On September 27 alone, trading volume soared by 22%, reaching $17.6 billion.
Although Ethereum is still trading 46% below its all-time high of $4,891, which it reached in November 2021, the current upward movement is encouraging for traders. Despite this, Ethereum network activity has seen a decline, with the seven-day moving average of active accounts falling by 16% in the past month, currently standing at 370,000 active accounts.
Institutional Investors Show Caution Amid ETH Price Surge
However, while individual traders, like the Ethereum whale, are profiting from the current price surge, institutional investors appear more cautious. Data from SoSoValue shows that Ether spot ETFs have faced $581.6 million in net outflows since their introduction in July 2024. This outflow signals that larger investors are pulling back, even as retail traders benefit from Ethereum’s volatility.
Ethereum Price Trend Analysis. Source: TradingView
Ethereum’s Relative Strength Index (RSI) stands at 58.67, indicating that the market is currently dominated by bullish sentiment. However, Ethereum faces strong resistance levels in the $2,700-$3,000 range, which may limit its short-term gains.
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