September brought surprising gains for the crypto market, with Ethereum rising above $2,600.
One trader, known as the “Ethereum Whale,” took full advantage of this rally, netting $554,000 in profit through a series of successful trades.
According to Lookonchain, this investor achieved a perfect track record with nine trades over the past six weeks. Starting with a $40,712 return in mid-August, his most profitable move came on September 26, when he invested $26.2 million to buy 10,206 ETH tokens and sold them later the same day for $27.8 million, securing the massive gain.
In total, his calculated market timing has earned him $2.11 million in profits, sparking interest across the crypto community. Some traders have even begun copying his moves, and many speculate that this level of whale activity could hint at a broader uptrend for Ethereum.
The Ethereum market has been recovering after dipping to $2,171 earlier this month. While trading volume spiked 22% on September 27, reaching $17.6 billion, Ethereum remains 46% below its November 2021 all-time high of $4,891. Network activity has also declined, with the average number of active accounts dropping by 16% in the past month.
Popular crypto expert Sherpa has expressed bullish sentiments on a mid-cap Real World Asset (RWA) token, while also sharing thoughts on three other altcoins.
Grayscale revealed its top 20 cryptocurrencies for the fourth quarter of 2024, adding six new altcoins and emphasizing trends such as decentralized artificial intelligence and blockchain scalability.
The eagerly awaited airdrop for Hamster Kombat (HMSTR) occurred on September 26, distributing 60 million tokens.
Tether (USDT) is rapidly broadening its market presence, contrasting with the more conservative approach of its competitor, USDC.