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Trader Deposits 660 BTC ($42.85M) to Binance for New Trade

source-logo  blockchainreporter.net 21 June 2024 14:02, UTC

According to Lookonchain, a smart trader has made significant profits from trading Bitcoin (BTC) twice in the past year. His total earnings exceed $30 million. Recently, he deposited all 660

, valued at approximately $42.85 million, into Binance for profit.

What a smart money!

He traded $BTC 2 times in the past year and made money every time, making more than $30M in total!

5 hours ago he deposited all 660 $BTC($42.85M) to Binance for profit.

Bought 718 $BTC at $29,385 from Aug 9 to Nov 2, 2023 and sold at $41,953 from Dec 15 to… pic.twitter.com/gRP26LbAXS

— Lookonchain (@lookonchain) June 21, 2024

Trader Gained Significant Profits from Two BTC Trades

The trader’s first significant transaction includes 718 BTC purchased at the average rate of $29,385 from August 9 to November 2, 2023. He then sold all of these BTC at an average price of $41,953 from December 15 to December 18, 2023 earning a profit of $9 million, which is 43% higher.

In his second major trade, he purchased 1,181 BTC at an average cost of $48,822 between February 7 and May 13. He later sold these BTC at an average price of $66,792 on May 27 and June 20 to earn $21.2 million, or a 37% profit.

Bitcoin Trading Profits Showcase Market Potential

These strategic trades demonstrate how the trader waited for the right moment to invest and received large returns. His most recent action of sending 660 BTC to Binance indicates that he is waiting for another profitable trade.

Lastly, this news shows that Bitcoin trading can be highly profitable for those who can correctly guess the Bitcoin price movements and make a proper trade at the right time. The trader’s success story might just make many people consider trading in Bitcoins, although the story also highlights the volatility of this market.