A large swing trader made a significant profit from the Ethereum price changes in just one evening.
Morning Purchase during Dip
The whale initiated his trade in the early morning, using 82.34 million USDT to buy 25,204.6 ETH at $3,322 per token.
Selling Position and Securing Profit
In the evening, as Ethereum's price rose, the trader sold the entire position at $3,417 per ETH, receiving 86.12 million USDT back and earning a profit of $2.4 million.
Swing Trading and Whale's Strategy
Swing trading involves capturing short- to medium-term movements in financial markets to make a profit. Unlike day trading, where positions are held intraday, swing trading positions can be held for several days to weeks. This strategy requires skilled use of technical analysis and risk management.
This successful trade brought the trader's total profits in 2024 to $7.77 million across 23 trades, making him one of the most successful swing traders in the market.
