Crypto Trader Made $554K in Just 24 Hours as Ethereum Skyrockets Unexpectedly

Technology

Crypto Trader Made $554K in Just 24 Hours as Ethereum Skyrockets Unexpectedly – Crypto News

Published

2 years ago

September 27, 2024

Dripp

After days of bulls’ dominance in the crypto market, many cryptocurrencies have felt an uptrend, including Ethereum, which has hit saturation earlier but made satisfactory gains recently. This recovery was important in September, as this month is known for the market’s poor performance. However, September went differently this year, as the entire crypto market is up with the Ethereum price rising even after Ethereum ETFs faced $79 in outflows. It has boosted the pockets of many, and one crypto trader has made $554K with this opportunity.

Crypto Trader Maintains 100% Win Rate, Making Another $554K

The crypto market comprises millions of cryptocurrencies delivering heavy returns for their holders. However, hundreds of factors decide their price trajectory. Because of this, crypto trading is a mix of profits and losses, which constantly requires proper portfolio management, market research, and much more.

One crypto trader has implemented all the right strategies, and he is maintaining a win rate of 100% per the Lookonchain data. This trader is known as the Ethereum whale due to his constant trading in ETH tokens with great success. As per Lookonchain X post, the crypto trade has traded ETH 9 times in the last one and half months, making millions in profits.

This smart trader with a 100% win rate in swing trading $ETH sold 10,206 $ETH($27.8M) 30 minutes ago, making another profit of $554K!

He has traded $ETH 9 times since Aug 12, making money every time, with a total profit of $2.11M!https://t.co/n2BRy94suk pic.twitter.com/UsP30OSGQz

— Lookonchain (@lookonchain) September 26, 2024

He began crypto trading on August 12, where he made only $40,712 in returns, but that was just a start as the profit continued to rise further. He made the last trade just yesterday, where he invested $26,243,040 to buy 10,206 ETH tokens and sold all the tokens within the same day for $27,797,418, making a profit of $554K. With this, he has completed all nine trades with 100% success, shocking fellow investors.

Interestingly, he closed most of his trades within the same day and still managed heavy profits. After analyzing his trades, it is revealed that he has spent millions on every trade, creating a window for profits even with slight price changes. Additionally, he entered the market when the Ethereum price was low and left when the price grew significantly. With this, he has generated $2.11M in profits in just a few weeks.

How Is Ethereum Performing Today?

Ethereum had a concerning fall at the beginning of the month, where the price dropped to as low as $2171. However, ever since then the Ethereum price has been on the recovery, gaining 4.35% and 1.66% value over the week and in the last 24 hours.

The crypto trader bought his last trade when Ethereum was at $2,5721 and sold the holding when the price reached $2,626, after a significant growth. However, the surge did not stop there, as ETH is presently trading at $2,661, much higher than before.

Though this is not the best performance of the second-biggest cryptocurrency in the market, it is significant considering its earlier fall. If it continues, the ETH price will target $2900 next, especially after BlackRock CEO Larry Fink has shown new enthusiasm for this cryptocurrency.

Final Thoughts

Crypto trading is all about the time. Any crypto trader can manage significant gains if he places the trade on the right. One Ethereum trader has been doing the same for weeks, making $2.11M in profits. He invested a huge amount in ETH token when the Ethereum price went down and sold within the same day when the price grew, making big profits in small durations. However, he is not the only trader with heavy profits these days, another one made $1.2M from $135 in Terminus Token.