Here’s How a Trader Earned $2M from Ethereum With a 100% Win Rate

A skilled Ethereum (ETH) trader has made waves by consistently earning profits through swing trading, achieving a perfect track record. Since September 2, the trader has executed six successful ETH trades, boasting a 100% win rate. Over just 15 days, they turned 4,821 ETH into 5,690 ETH, netting a profit of 869 ETH, worth approximately $2 million.

This smart trader is excellent at swing trading $ETH, having traded $ETH 6 times since Sept 2 with a 100% win rate!

In just 15 days, he turned 4,821 $ETH into 5,690 $ETH, making a profit of 869 $ETH ($2M)!

Address:
0xe0b532985a6b8bfe82a9d1f6f83373c75a7b3c71 pic.twitter.com/XemVO7Z7YE

— Lookonchain (@lookonchain) September 17, 2024

In another notable development, blockchain analytics platform Lookonchain reported that a seasoned whale investor capitalized on a market dip to buy 5,000 ETH, a purchase valued at around $11.46 million. The investor, known for its strategic timing, previously acquired 5,200 ETH in November 2022 at an average price of $1,322. They later sold this ETH between December 2023 and January 2024 at an average price of $2,093, generating a substantial profit of over $4 million.

Dormant Ethereum Whale Reawakens

Separately, a dormant Ethereum whale made headlines after waking up following 8.5 years of inactivity. According to CoinTab, the whale’s holdings, initially valued at just $87,135 in 2016, had grown exponentially. 

The investor originally received 16,636 ETH from the cryptocurrency exchange ShapeShift when each ETH was worth only $5.23. Today, their ETH stash is valued at approximately $39 million, marking an astonishing 446x increase in value, underscoring Ethereum’s rapid growth over the years.

ETH/BTC Ratio Hits Historic Low Amid

These latest developments in Ethereum come as its value is facing some challenges. The ETH/BTC ratio recently dropped below 0.04—its lowest level since April 2021. This ratio reflects the price of Ethereum relative to Bitcoin, rather than in USD. While Bitcoin has only fallen 21% from its all-time high, Ethereum has seen a steeper decline of 53% from its 2021 peak.

In a post on X (formerly Twitter), ITC Crypto founder Benjamin Cowed predicted that the ETH/BTC ratio could bottom between 0.03-0.04 before recovering in 2025. Galaxy’s Head of Research, Alex Thorn, also noted this trend, reporting that ETH/BTC traded at 0.03 for the first time in over three years.

Furthermore, analyst Master Kenobi echoed these observations, suggesting that such declines are cyclical, historically occurring after Bitcoin halving events, with reversals typically happening 168-224 days post-halving. He predicted a reversal soon, as it has been roughly 150 days since the last Bitcoin halving.