Ethereum Whale Misses $27.6M Profit Amid 24% Market Sell-Off

An Ethereum whale, who had been holding 10,000 Ether for 900 days, recently sold their entire stash, missing out on a potential peak profit of $27.6 million. The whale initially purchased the Ether in October and November 2022 for an average price of $1,295 per token, totaling $13 million. The sale occurred when Ether was trading around $1,578, resulting in a profit of $2.75 million. However, the peak profit of $27.6 million was missed when Ether reached a high of $4,015 in December 2022. The whale's decision to sell came amidst a broader market sell-off, with Ether's price down 24% over the last seven days. This sell-off was triggered by global tariffs imposed by the Trump administration, which has had a significant impact on the cryptocurrency market.

The sale of the Ethereum whale's stash is not an isolated incident. Another significant player in the cryptocurrency market, World Liberty Financial, a project backed by Donald Trump, may have also sold part of its Ether stash at a loss. According to blockchain analytics service Lookonchain, a wallet possibly linked to World Liberty Financial sold 5,471 ETH for $8.01 million at an average price of $1,465. Before this supposed sale, World Liberty Financial had a stash of 67,498 Ether, which it bought at an average price of $3,259. This indicates that the sale was made at a loss, further highlighting the impact of the recent market sell-off on major players in the cryptocurrency space.

The recent market volatility has also seen other whales making significant moves. On April 7, an unidentified crypto whale injected 10,000 Ether, worth more than $14.5 million, to save their position of 220,000 Ether worth more than $300 million from liquidation. Another whale, however, was not as fortunate, losing 67,570 Ether worth around $106 million when their significant position on a decentralized finance lending platform was liquidated. These events underscore the high-stakes nature of the cryptocurrency market, where even small price movements can result in significant gains or losses.