Crypto
Ethereum Whale Locks In $9.9M Profit on 40,000 ETH Amid Market Volatility
An Ethereum whale linked to the BIT exchange has taken profits on a significant portion of its long position, realizing a $9.9 million gain.
The address closed 40,000 ETH from a previously accumulated 120,000 ETH long position, which was entered at an average price of $2,513.
This move comes as ETH shows volatility, prompting other BIT-linked addresses to increase their exposure.
By locking in gains, the trader reduces risk while still maintaining a substantial long position. The remaining 80,000 ETH from the original position remains open, indicating a continued bullish outlook despite the partial exit.