- A smart money trader made profits 20 times out of 25 by trading ETH.
- If ETH retraces, $2,160 may be a good entry point as the coin may later hit $2,400.
- Short will most likely be liquidated as long as the current ETH momentum holds.
Trading cryptocurrencies can be tricky for inexperienced players. But for smart money traders, price swings can be vital for making gains, and that was the case with a trader who has made $3 million in profit from trading Ethereum [ETH].
20 Wins Out of 25
According to Lookonchain, this trader sold all of his ETH for $6.35 million at an average price of $2,230. Although the recent profit was around $457,000, the same trader has exchanged ETH 25 times in the past 365 days. Lookonchain also mentioned that the trader made gains 20 times out of the possible 25.
A smart money who is good at trading $ETH sold all 2,850 $ETH($6.35M) at $2,230 in the past 6 hours, making ~$457K.He/she has traded $ETH 25 times in the past year, winning 20 times (the selling price is higher than the buying price), with a total profit of more than $3M. pic.twitter.com/we5vLfZ5ZM
— Lookonchain (@lookonchain) December 4, 2023
While moves like this ar…
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