blockchainreporter.net
One ETH trader has caught the market’s attention in a world of high-risk and high-gain cryptocurrency trading. With an impressive track record of swing trading $ETH, this trader recently bought 7,483 Ethereum tokens, equivalent to about $18.8M. This move further strengthens his position as a top performer, bringing his total profits to $2.14 million since August.
Consistent Wins in the Market
As per the data on Lookonchain, the trader in question has achieved 100% accuracy in swing trading. From 12 August to 28 September, he made ten trades, each bringing him a profit. These well-timed buys and sells generated a net amount of $2.14 million. This kind of consistency is hard to come by in the inherently unpredictable world of cryptocurrencies, making this trader unique.
Recent Activity: Adding to Success with $ETH Trades
After October 14, the trader performed two more $ETH transactions and generated 133 $ETH in profit, approximately $334K. This roll of victories speaks volumes about his market intuition and efficiency towards fluctuation in the price of the token appropriately.
Today, he owns 10,216 $ETH, equal to about $25.6 million, but they have an unrealized loss of $1.21 million. This is a temporary situation as the price of the token can quickly increase by the same amount the next day due to the volatile nature of cryptocurrencies.
Breakdown of Key Trades
Some of his standout trades include:
- September 28, 2024: He sells 3,931 $ETH at $2,690 per coin and makes a profit of $22,056.
- September 26, 2024: Sold 10,206 $ETH at $2,626, bringing in $554,378
- September 21, 2024: Sold $10,206 $ETH obtained at $2,571, making a profit of $530,492.
This makes these transactions proficient in aligning with the market trends and timing, making good profits notwithstanding the fleeting changes in price.
An Unmatched Track Record
The results show that this trader not only has skills but also understands this market well and gets in and out at the right time. To other traders and blockchain enthusiasts, his trades show how swing trading could be when done with proper timing. However, such accomplishments also entail certain dangers, which can be observed in his nearly $1.21 million unrealized losses on the current portfolio.
This impressive performance strengthens the claim that swing trading could be highly profitable. At the same time, people should not forget the possible losses related to cryptocurrency’s volatile nature.