Giant Altcoin Whale Missed Out on $42.64 Million Profit! Bought High, Sold Low! Here are the Transactions He Made

One of the common strategic mistakes in the crypto market has led to a whale address coming to the fore with Ethereum transactions.

According to on-chain data, this whale address missed out on a potential profit of 42.64 million dollars by 'buying high and selling low'.

The address in question sold 50,754 ETH at $1,754 on April 23, obtaining 89.03 million USDT. It was reported that 15,000 of these ETH were used to open short positions with borrowed assets. However, after 27 days, with this amount of USDT, they were only able to purchase 34,343 ETH at a level of $2,592. Thus, the investor suffered a loss of 16,452 ETH. The initial 35,754 ETH they held dropped to 19,302 ETH after the transaction.

The loss becomes even clearer when compared to the current market value of these transactions. The 19,302 ETH you hold is currently worth approximately 5.004 million dollars, while the current value of the 35,754 ETH you had before the transaction reaches 92.69 million dollars. The difference indicates a loss of 42.64 million dollars.

On the other hand, institutional interest in Ethereum continues to grow. According to Farside data, US spot Ethereum ETFs recorded net inflows for nine consecutive trading days, attracting a total of $486 million in capital.

*It is not an investment advice.

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