Whale Makes Impressive Profits with $USDT and $ETH Tokens
A whale in the crypto industry has proven to be quite savvy in their investment strategy, as they managed to make significant profits by purchasing $ETH tokens with $USDT before the news of the spot ETH ETFs broke. Lookonchain, a prominent on-chain statistics provider, recently revealed this development on their social media account.
Before the news of the $ETH ETFs, the whale spent a staggering 26.67 million $USDT to acquire 8,733 $ETH tokens at a price of $3,054.56 per token. This investment has already resulted in an unrealized profit of approximately $6 million for the whale.
Following the approval of form 19b-4 for the $ETH ETFs by the SEC, the whale made another move by purchasing $24.7 million worth of tokens from the Ethereum ecosystem. This investment has generated an unrealized profit of around $1.1 million for the whale.
Lookonchain’s post on Twitter further elaborated on the whale’s actions, showcasing their impressive investment strategy. In addition to the $ETH tokens, the whale also deposited 19.75 million $USDT tokens to Binance. They also redeemed various other tokens, including 4.04 million $LDO, 684,364 $UNI, 250,969 $FXS, 82,041 $ENS, and 52,623 $AAVE coins.
Overall, this strategic move by the whale has proven to be highly profitable, demonstrating the potential impact of the ETH ETFs on the crypto industry. The whale’s ability to make such substantial profits before and after the ETF approval highlights their foresight and expertise in the market.
