Smart Money Trades Ethereum With Colossal Profits Amid ETH Price Surge

Ethereum, one of the most prominent blockchain-based platforms with the native token Ether (ETH), curated a cyclone of speculations across the crypto landscape on Thursday as the token aided a trader in earning colossal profits. As per on-chain data surfacing over the crypto horizon, the trader seems to have accumulated ETH on substantial lows, thereafter selling it at noteworthy price highs.

The smart money wallet that garnered these profits caught the eyes of crypto traders and investors globally as it sold these profits amidst Ethereum’s remarkable surge today. Moreover, with a roughly $6 million profit, the trader seems to have propelled optimism for ETH trading within the broader crypto market.

Smart Money Sells ETH Accumulations, Amasses Profits

According to the data unveiled by Lookonchain, a platform streamlining on-chain metrics, the smart money wallet labeled nakamotosatoshi.eth was noted amassing substantial profits today, December 28. Moreover, as per the data, the wallet dumped a whopping 17,700 ETH at $2,384 today.

The dumping of the aforestated amount aided the trader in garnering a profit worth $5.8 million as of writing. Furthermore, the same trader has been observed making similar transfers orbiting ETH over the past three months.

In alignment with the data, the smart money trader appears to have acquired ETH at price lows and sold it at colossal highs over the past three months. Intriguingly, the trader did this with a 100% success rate.

Meanwhile, the smart money trader’s profits appear to have spiked a torrent of speculations orbiting ETH’s current market dynamics. Notably, it’s ETH sell-off falls in line with the upward trajectory portrayed by the token’s market chart today.

Also Read: Binance Unveils Isolated Margin Auto-Transfer Mode, BNB Price Soars 10%

Ethereum Price Surges

At the time of writing, the Ethereum price marked a 6.14% surge over the past 24 hours and is currently standing at $2,394.63. Moreover, the token’s weekly chart showcased a 7.67% gain, further accompanied by a monthly upswing of 18.61%.

With ETH’s price showcasing prominent gains in recent days, crypto market enthusiasts seem to be securing bullish sentiments for the token. Furthermore, with the smart money trader garnering colossal profits, the bullish sentiment orbiting ETH appears to be further jacked up.

Also Read: Cathie Wood’s Ark Invest Sells Coinbase, GBTC, SQ Shares, Adds Ark 21Shares & BITO Bitcoin ETFs

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