An on-chain Ether (ETH) trader has made a $2 million profit from six perfect swing trades over just 15 days. This impressive move has left many in awe, wondering how this trading wizard achieved such incredible success.
How Did It Happen?
Lookonchain, a Leading blockchain analytics firm, drew users’s attention to the trader via a tweet on X (formerly Twitter). Blockchain data reveals that the trades began September 2 and the last trade so far occurred on September 17.
Starting with a sell order, he sold 4,821 ETH ($12.11M) at an average price of $2,512 per coin, then waited patiently probably watching the charts. After 2 days of waiting, the trader upon noticing the dip, accumulated 5,094 ETH at a lower price of $2,378. This leaves him with a gain of 273 ETH worth $626,500.
Later on the same day, after a 0.9% increase from his last buy, the trader sold his holdings to buy back 5,153 ETH two days later. This fetched him an additional 58 ETH which is worth $132,800. He sold it again at a higher price and bought back 5,263 ETH gaining an additional 111 ETH worth $256,200.
The trader continued on this sell-high-buy-low trading strategy three more times, flipping 4,821 ETH into 5,690 ETH. This boosted his Ether holdings with an additional 869 ETH worth $2 million. This trading performance shows the trader’s market acumen, proving that users with a keen understanding of market trends and dynamics can gain from the crypto market.
The trader expertly navigated the Ethereum market to achieve an 18% increase so far. At press time, the last trade occurred hours ago. There are chances that the trader might continue on his winning streak and accrue more ETH profits.
Not the First
Lookonchain had also reported other on-chain trades that accrued profits from the Crypto market. One such trader used 70 Solana (SOL), worth almost $10,000, to buy about 82 million tokens of a new memecoin called BAKED. Within 30 minutes, they sold all their tokens for 21,581 SOL, making over $3 million from their initial investment.
A few months ago, a Bitcoin investor, often called “smart money,” made a remarkable profit. By carefully timing his BTC purchases and sales, he made over $30 million in profit.
