Ethereum Whale Scores Massive Profit as ETH Surges Past $2,600

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.

READ MORE:

Analyst Predicts Bitcoin to Break All-Time Highs by Year-End Despite Possible Dip

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.

Alexander Stefanov