Whale's $5.7M Ethereum Loss: Bitcoin's Profit Alternative

A significant cryptocurrency investor, often referred to as a "whale," recently incurred a substantial loss following the liquidation of their Ethereum (ETH) holdings. Approximately 8,010 ETH were sold 8 hours ago, resulting in a loss of $5.73 million.

On-chain analyst Wu Jinyu's monitoring revealed that the whale initially purchased the ETH in September 2021 for $25.33 million at a price of $3,163 per ETH. After holding the asset for five months, the whale decided to liquidate their position, selling all 8,074 ETH at a price of $2,427. This transaction resulted in the whale receiving 19.6 million USDC, but at a significant loss.

Had the whale chosen to invest in Bitcoin (BTC) instead of ETH at the time, they would have realized a profit of $7.45 million, highlighting the contrasting performance of the two leading cryptocurrencies over the past year.