Suspected 'Ethereum Whale of 819 Insider' ETH Long Position Reaches $11.5 million in Profit, Doubling Principal

BlockBeats News, August 25th, according to TradingBeats (formerly Hyperinsight) monitoring, on August 19th, about 1 hour before ETH started to rise, a suspected insider whale made a one-time heavy purchase of $38.72 million. The whale has not sold any ETH so far, and the unrealized profit has expanded to $11.5 million.

At the time of writing, ETH is priced at $2509.8, representing a roughly 29.6% increase from its $1936 entry price. The address continues to hold 20,000 ETH with 4x leverage, with the long position value reaching around $50.196 million, achieving a return of 118.6%.

It is reported that this new address was activated on August 19th and received $20 million in funds from the same source address in about two minutes in three separate transactions. Subsequently, at 20:52, a long position of 20,000 ETH was opened in one go, about 1 hour before the start of ETH's main upward trend. There have been no further additions, reductions, or take-profit/stop-loss orders.

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