Ethereum Whale Scores $100 Million in 24 Hours: Massive Bet Fuels Record High

A large Bitcoin holder, holding a substantial amount of BTC since 2016, has taken a significant position in Ethereum, resulting in an immediate profit exceeding $100 million. Recent transactions on the blockchain suggest this whale’s move was carefully orchestrated rather than a sudden shift. The whale amassed over $270 million worth of ETH through spot purchases and leveraged positions before expanding its exposure to derivatives markets with a commitment of $580 million for equivalent 135,265 ETH. 42 million in paper profit already reflects the success of this strategy.