A well-known smart Ethereum investor has once again made a significant move in the cryptocurrency market. According to Lookonchain, this investor bought 4,000 ETH just a few hours ago. The worth of these tokens is approximately $12.58 million.
Can This Crypto Star Turn a $7.6M Loss into a Profit?
This particular investor has a rather impressive history. Fortunately for him, between November 21, 2022 to May 23, 2024, he invested and traded in Ethereum seven times with the ability of buying during low prices and sell higher. The above strategy has provided him with perfect win rates and provided an overall total profit of more than $38 million.
However, the latest investment has not quite returned their profits as yet. Since May 29, he accumulated 17,012 ETH for $61 million with an average price of ETH $3,587. As of now, Ethereum is cheaper than the price they bought them for, which makes the current loss of approximately $7.6 million.
This is the very important question if this smart investor can win this time or not. It is expected that he has the ability to identify the good look of market for investment. However, with the current look of market trends is not going in his favour.
Traders in the crypto community are now waiting to see whether this investor will be so lucky or not. If he is able to sell of the recent purchase, then it will take him to be the next level of being regarded as the market superstar.
Crypto World Awaits Key Decisions from Leading Ethereum Investor
At the moment, the investor is to make really important steps, at least determining further strategies. Will they keep holding their ETH in the anticipation of the price to spike up again, or will they sell to make a profit for the second time? As with any successful strategy, only the future will reveal the outcome, however, the previous wins of the investor look promising.
As it has been seen in the world of crypto, the even the most intelligent investors are not immune to risks. This is a confidence boost for Ethereum, as reported by Lookonchain in this case, but to whether this will be another loss or win, still remains to be seen.
