Crypto whale who made big profits by shorting Bitcoin during LUNA/UST crash invests $10.43 million in Ethereum
Data from Arkham Intelligence confirms that the wealthy investor bought 4,192 ETH at an average price of $2,490 per ETH over the past seven hours. He then staked those tokens on Lido and RocketPool, two major DeFi platforms.
The move highlights the crypto whale's confidence in the future of Ethereum and the potential for earning rewards through staking.
Earlier, during the LUNA/UST crash from February 18 to March 7, this user made $2.25 million in just half a month by buying wrapped Bitcoin (WBTC) as the price plummeted. This risky “bottom-fishing” strategy can be profitable only if executed correctly.
In this regard, his latest investment in Ethereum has made investors pay attention to the prospects of the number one altcoin. However, for now its price is falling due to the slow dive of the price of Bitcoin.
