A crypto trader spent $ 3.8 million to buy ether at a significantly higher price after sold the asset for almost the same amount about a month ago.
On May 22, the blockchain analysis company, Lookonchain, reported that a crypto wallet had spent $ 3.8 million to buy $ 1,425 ether (ETH) at $ 2,670 per room, returning ETH after a major rally.
On April 13, the same portfolio sold 2,522 ETH for $ 3.9 million, when the asset was negotiated at around $ 1,570, a decision which, retrospectively, seems poorly timed.
“Think twice before selling your bags,” wrote Lookonchain, highlighting potential gains if the merchant has just kept his ether instead of selling it and buying it at a higher price.
Trader loses a gain of $ 2.67 million
With the ETH greater than 70% since the sale, the merchant has lost more than 1,000 ETH, or around 2.67 million dollars, buying back. If the merchant had decided to keep his ether, the assets were worth around 6.7 million dollars.
While ETH joined, the assets exceeded the market capitalization of large companies like Coca-Cola and Alibaba.
At the time of writing the editorial staff, monitoring the company’s data 8marketcap shows that the market capitalization of 321 billion dollars of ETHER in fact the 38th most valid asset in the world, exceeding the pharmaceutical company Abbvie and approaching the Bank of America.
Ether’s resumption was largely fueled by the successful launch of its Pectra upgrade. The update has improved the scalability of the network, the user experience of the validator and the intelligent shutter features. These updates should lead to a broader adoption of the Mainnet Ethereum.
In relation: Bitcoin Open Interest strikes record, while the bulls bathe towards the new price of the BTC price
ETH leads Crypto investment products with weekly $ 205 million entries
In addition to its recent price appreciation, investment products based on ETH in the United States have also seen a renewal of interest.
A May 19 Digital Asset Manager report reports revealed that investment products in American crypto experienced $ 785 million in entries last week. This development pushes the total of the start of the year (YTD) for ETP Crypto at 7.5 billion dollars.
ETH was the most efficient among the products negotiated in exchange for crypto (ETP), attracting $ 205 million at entrances last week. This represented 26% of all the entries within the deadline. This also brought the total YTD ETH to more than $ 575 million.
The Coinshares report awarded the increase in entries to the renewed optimism of investors following the upgrade of Pectra as well as the appointment by the Ethereum Foundation in Tomasz Stańczak as co-executive director.
https://www.youtube.com/watch?v=fwo0hw_94a4a
Review: Tradfi built Ethereum L2S for Tokensize Tillions in Rwas: Inside Story
