Sold High, Bought Back Lower? This ETH Whale May Have Played It Perfectly.
Did trader 58bro.eth just pull off a very smart ETH move?
Back on November 4–5, the wallet deposited 8,000 ETH into an exchange when ETH was trading around $2,397.41. Now, fast forward to today. Over the past 50 minutes, the same wallet has withdrawn exactly 8,000 $ETH from OKX, this time at an average price of $2,007.27.
The price difference is quite something. If these deposits and withdrawals were indeed a sell and a subsequent buyback, the trader could have avoided roughly $3.12 million in losses by getting back in at a much cheaper price.
Of course, there's no confirmation yet that both transactions were part of the same trading strategy. But the timing and matching ETH amounts definitely make this wallet interesting to watch.
Did 58bro just nail the high-sell, low-buy game?
Wallet: https://arkm.com/explorer/entity/0x58bro
Did trader 58bro.eth just pull off a very smart ETH move?
Back on November 4–5, the wallet deposited 8,000 ETH into an exchange when ETH was trading around $2,397.41. Now, fast forward to today. Over the past 50 minutes, the same wallet has withdrawn exactly 8,000 $ETH from OKX, this time at an average price of $2,007.27.
The price difference is quite something. If these deposits and withdrawals were indeed a sell and a subsequent buyback, the trader could have avoided roughly $3.12 million in losses by getting back in at a much cheaper price.
Of course, there's no confirmation yet that both transactions were part of the same trading strategy. But the timing and matching ETH amounts definitely make this wallet interesting to watch.
Did 58bro just nail the high-sell, low-buy game?
Wallet: https://arkm.com/explorer/entity/0x58bro
