In the past two days, a prominent cryptocurrency whale sold 540 Wrapped Bitcoin (WBTC) valued at approximately $29.6 million. The sale occurred at a price of $54,853 per WBTC, yielding a profit of around $15.5 million.
This whale initially purchased 721 WBTC from Binance between August 21 and August 25, 2023, at an average price of $26,191 per WBTC. This strategic move allowed the whale to capitalize on the recent surge in Bitcoin prices.
Additional Sales and Profit
In the past 36 hours, the same whale sold 320 WBTC for $17.8 million as soon as Bitcoin prices began to recover. This whale had accumulated most of its WBTC holdings during last year’s bear market, at an average price of approximately $26,176 per WBTC.
Following these transactions, the whale still holds 250 WBTC, valued at $14.3 million. With an estimated total profit of $21.3 million and a return on investment (ROI) of 91.3%, this whale has demonstrated significant financial acumen in navigating the volatile cryptocurrency market.
The whale’s strategic buying during the bear market and timely selling during price recoveries have resulted in substantial profits, highlighting the potential for lucrative gains in the cryptocurrency market for those who can accurately time their trades.
