Whale Liquidates 2,417 ETH, Nets $1.41 Million Profit

A large Ethereum holder, often referred to as a “whale,” liquidated 2,417 ETH approximately 10 hours ago, realizing a profit of $1.41 million in a significant on-chain transaction.

The liquidation event matters due to its impact on Ethereum’s price and market liquidity, resulting in heightened volatility and selling pressure.

The wallet address 0xC77...CbA28, involved in the sale, held ETH for one month prior. The average purchase price was $3,672.4 per ETH, and it sold at $4,257, showcasing active trading behavior.

A blockchain analytics report from ChainCatcher highlighted this activity. Despite its size, no institutions were directly linked to the trade, according to available data.

A certain whale sold off 2,417 ETH 10 hours ago, making a profit of 1.41 million dollars in a single transaction. … according to Ai Yi’s monitoring, the swing address 0xC77...CbA28 cleared 2,417 ETH 10 hours ago after holding for 1 month … the cumulative revenue from the last two swings exceeded $2.8 million.

Ethereum faced a price drop to near $4,320 post-transaction, with $210M in ETH positions liquidated in the same period. The whale’s actions added to market volatility.

The broader cryptocurrency market remains sensitive to such whale activities, with potential ripple effects on DeFi protocols. Historic patterns suggest ETH liquidations often prompt further price swings.

No regulatory bodies have commented on this transaction. Community alerts emphasize viewing blockchain rationally and enhancing risk awareness amid speculative trading.

In essence, while the immediate financial gain for the individual participant was significant, the broader impact reflects how substantial transactions can influence market conditions and investor strategy. Bitcoin liquidations were lower during this period, spotlighting Ethereum’s current risk environment.