An expert swing trader, known for a flawless 100% success rate, just made headlines by buying another large stash of Ethereum as its price fell to $2,635. According to Lookonchain, a well-respected blockchain analytics platform, this savvy investor has a talent for timing the market perfectly. With this latest move, the trader has now made an impressive profit of $2.16 million!
A Winning Strategy
Recently, this savvy investor made headlines by purchasing a whopping 10,083 ETH for approximately $26.8 million. This move, made just eight hours ago, highlights their keen ability to capitalize on price drops, demonstrating a strategy that has proven successful time and again.
Since August 12, this trader has executed 10 trades involving ETH, achieving a perfect 100% win rate. In total, they have earned around $2.14 million from these trades. This winning streak not only highlights their skill but also raises interest in the current state of the Ethereum market.
By purchasing ETH after price dips, this trader has managed to capitalize on short-term market movements. The recent purchase of over 10,083 ETH suggests confidence in Ethereum’s potential for recovery and growth.
Vitalik Buterin Again Sold the Ethereum
While a smart trader is busy buying Ethereum (ETH) during price dips, Ethereum co-founder Vitalik Buterin has been selling his shares. According to on-chain data from SpotonChain, Buterin has transferred nearly 1,300 ETH to the crypto exchange Paxos over the past 12 days.
In just the last 24 hours, Buterin moved 649 ETH, valued at around $1.72 million, to Paxos from his wallet, identified as “0x556.” This consistent selling raises questions about the future of Ethereum and what it means for investors.
Ethereum Price Analysis
Ethereum’s price has been fluctuating around $2637, and the MACD indicator, which measures momentum, shows a bullish trend as it rises above the signal line.
Meanwhile, the Relative Strength Index (RSI) is at 57.79, slightly above neutral. This indicates that Ether is neither overbought nor oversold, suggesting potential for growth if buying interest picks up. As market sentiment shifts, buying ETH after significant drops can be a smart move.