blockchainreporter.net
In a momentous event, a pseudonymous crypto investor has obtained significant profit. As per the prominent on-chain analytics firm Lookonchain, the Ethereum trader gained around 3 million in terms of profit in less than 40 days. The analytics platform provided the details of this event on its official social media account.
myparagon.eth sold all the remaining 4,802 $ETH($12.56M) 40 mins ago, making a profit of ~$2.8M in 38 days!
— Lookonchain (@lookonchain) October 15, 2024
He bought 9,050 $ETH($20.75M) at ~$2,293 on Sept 7 and Sept 9.
Then he sold all $ETH at ~$2,598 on Sept 30, Oct 2, and Oct 15, making ~$2.8M.https://t.co/XFRkut6fb4 pic.twitter.com/jfBt8h8d0Q
Investor Sells All His Ethereum Holdings
In its recent X post, Lookonchain mentioned that the investor’s profit of $2.8M has made waves in the crypto sector. The investor formerly acquired a cumulative 9,050 $ETH coins back in September at $2,293 as the average price. This time, the investor has effectively capitalized on Ethereum’s recent price spike.
The data from Lookonchain discloses that the investor has recently conducted the last sale of $ETH. The respective sale accounted for up to 4,802 $ETH with a value of nearly $12.56M. This strategic development denoted the conclusion of a set of precise and timely transfers. In this respect, the investor has reportedly liquidated the holdings thereof across diverse dates from September’s end to the middle of October.
The Investor Keeps Making Huge Returns Starting from September 2024
The investor’s journey started with the buyouts on the 7th and 9th of September. At that time, the investor committed a cumulative amount of almost $20.75M to Ethereum while the market conditions were favorable. According to Lookonchain, the latest gains underscore the crypto market’s volatile yet profitable nature that savvy investors such as “myparagon” leverage to make substantial profits.