It was recently reported that a major Ethereum holder suffered substantial losses in a recent trade. Let's examine what exactly happened.
Data Analysis
According to data shared by The Data Nerd, a major crypto investor accumulated 2,140 ETH worth $7.13 million at an average price of $3,331 about three months ago.
Trade Details
Interestingly, this investor deposited these ETHs, currently worth $4.06 million, to Binance today and likely sold them. If he sold, he would have lost approximately $3.08 million, which means a 43% loss from his initial investment.
Current Market Situation
At the time of writing, Ethereum's price is at its lowest level in a year. The world's largest altcoin has lost 20% of its value over the last month and is trading at $1,816, which is 62% lower than its record high.
The situation with the Ethereum whale highlights the current volatility in the cryptocurrency market and underscores the risks associated with investing in digital assets.
