Ethereum Whale Locks In $4.3 Million Profit After Selling 15,993 ETH

An Ethereum whale has closed a profitable position initiated earlier this year, locking in approximately $4.3 million in gains.

The move involved a leveraged bet using Spark, a DeFi lending protocol, to borrow 30 million USDS on June 7.

The funds were then used to purchase 18,212 ETH at an average price of $1,647 per token. Today, the same wallet sold 15,993 ETH at an average price of $1,889, repaying the loan with 30.20 million USDS.

The remaining ETH, along with the price difference, netted the whale an estimated profit of $4.3 million.