Bitcoin Whale Nets $91.5M Profit After Depositing 400 BTC to Binance

Amid the unpredictable nature of the cryptocurrency market, particularly for major coins like Bitcoin (BTC) and Ethereum (ETH), a bitcoin whale has significantly profited from a transaction, expanding their portfolio. The latest gain comes as BTC signals recovery.

Data from the blockchain analytics platform Lookonchain revealed that a whale deposited approximately 400 BTC, worth around $47.1 million, on Binance, the world’s largest crypto exchange by market capitalization. 

From Accumulation to Profit 

The report further disclosed that between June 2023 and November 2024, the same trader accumulated 1,000 BTC, valued at approximately $84.4 million. The whale acquired the coin at an average price of $56,282 and still holds 1,100 BTC ($129 million) at the current marketplace. 

Following the transaction, the smart trader profited $91.5 million, with a return on investment (ROI) of 109%. The announcement did not reveal the total amount in the trader’s wallet. However, the substantial gain has garnered attention in the crypto space.  

Meanwhile, events like this are common in the crypto sector. In some cases, this could be a trader’s strategy or a long-term hold. While the move may have profited the whale amid the bullish trend, it can also make a trader lose significantly.

Trader Hits Big With HYPE Token

In early June, another trader made a substantial profit on the HYPE token. For content, Hyperliquid is a Layer 1 protocol purpose-built for decentralized finance applications. It utilizes HYPE as its native crypto. Additionally, the protocol features an integrated decentralized exchange (DEX), also titled Hyperliquid. 

CoinTab reported that this trader carried out a series of transactions. At the time, the trader acquired 1.21 million HYPE at $4.30 per coin. While the asset traded high, these tokens spiked to roughly $42 million. 

In addition to maintaining a position in HYPE, the trader engaged in several perpetual futures contracts linked to the asset. One trade turned into eight—all profitable. By the end, they secured $1.95 million in gains.

In May, a savvy bitcoin trader also made headlines as he flipped market moves into $5.6 million profit in three days. Data revealed that the trader frequently adopted inverse positions relative to James Wynn, a Bitcoin whale. Notably, on May 24, as Wynn sustained a long BTC position and initiated shorts in BTC and ETH, the trader simultaneously entered long positions in both assets.