Here’s How an Ethereum Whale Made $16 Million on a Single Trade

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Some Ethereum Whale it was recently revealed that he made $16 million on a single trade involving the second-largest crypto token by market capitalization. The story of this whale shows once again how conviction investment can be very rewarding in the crypto space.

How This Ethereum Whale Made $16 Million in One Trade

Lookonchain analytics platform revealed on X (formerly Twitter) post that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the cryptocurrency token was still trading at $1,890 a year ago. With Ethereum’s current valuation of around $3,100, the whale’s ETH investment is now worth over $40 million, representing a profit of around $16 million.

Interestingly, his profits from this transaction will likely be over $16 million because the trader deposited these tokens in Lido staking platform when he withdrew them from Binance last year. This means that in addition to his $16 million profit, he also won significant betting rewards.

The data on the chain shows a whale recently retired 7,000 ETH ($21 million) from Lido back to Binance, but he has not yet reloaded these tokens. However, this is something to keep an eye on as a whale landing these tokens could have a negative impact on Ethereum’s price.

Tron founder Justin Sun looks like the next Ethereum whale that can achieve such significant returns on ETH investments. There are two wallets that appear to belong to Sun reported as of February 12, it has accumulated 295,757 ETH ($891 million) at an average price of $3,014. Since then, Sun has made some significant moves that could be profitable for him.

One such move is made by the founder of Tron recently deposited 120,000 eETH in Swell L2, liquid replenishment protocol. Although Sun claims that the move is not motivated by profit, he still stands to make huge profits from his venture, considering that share grabs are one of the leading narratives today.

Bull Run offers many possibilities

There were many of them reports highlighting how cryptocurrency investors and traders are changing lives, suggesting that the bull run is already in full force despite the Bitcoin crisis not very impressive price action lately. One opportunity these investors have taken advantage of this market cycle is meme coins.

Before the bull run began, there was a belief that memes would be one of the leading narratives, and that’s exactly what happened. Bitcoinist recently reported two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed Solana trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, providing a 144x return on investment.

ETH price sees piercing drop | Source: ETHUSD on

Featured image from Reddit, chart from


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