Whale Profits $2.4 Million From Ethereum Trade, Converts To WBTC

According to Odaily, an on-chain analyst named Yu Jin has reported a significant transaction involving a major whale or institution. Ten days ago, this entity borrowed 33 million USDC from Aave to purchase 11,486 ETH at a price of $2,873 per ETH. After holding the Ethereum for ten days, the whale sold all of it within the last half-hour at an average price of $3,083 per ETH. This strategic move resulted in a profit of $2.4 million. Following the sale, the whale repaid the borrowed amount and used the profits to acquire 26.6 WBTC. This transaction highlights the whale's ability to capitalize on market fluctuations and effectively manage their digital assets. The decision to convert the profits into WBTC suggests a strategic shift or diversification in their investment portfolio. Such activities by large players can have significant impacts on the cryptocurrency market, influencing both prices and trading volumes.