OTC Whale Books $6.4M Profit as Ethereum Climbs Higher

An OTC whale has locked in another profitable swing trade after selling 29,000 ETH, valued at approximately $53.1 million, around 11 hours ago. Notably, the position had been built during last week’s market dip.

At that time, Ethereum had fallen to roughly $1,603 before staging a recovery. Subsequently, as prices rebounded, the whale took the opportunity to exit the position.

Consequently, the trade generated an estimated $6.4 million profit. Meanwhile, Ethereum is trading near $1,771, marking a 3.2% increase over the past 24 hours.

Source: Lookonchain