Something amazing happened in the crypto-market recently. A Ethereum Whale sold their Ether Holdings just before the stock market crashed, saving them $5 million. It is incredible to hear that someone has managed to make a profit in a market full of red graphs before tragedy strikes. However, this was not luck, but a case of much more than pure luck. Let’s find out together!

Ethereum Whale Saves $5 Million 

According to Blockchain analysis platform Lookonchain, Ethereum Whale made a precise decision that saved them millions. The trader was able to save this money by selling their stocks just before the crash.

The crypto market crash has been brutal. Bitcoin has declined more than 8%, while Ethereum companies reported losses of more than 10%. Nevertheless, this whale was quicker than the market. They withdraw 22,341 Ether from the Binance Exchange on August 18th. This stash was worth $41,000,000 Tether stablecoins.

The market crash took place on this day. If this trader didn’t sell their holdings, they would have faced massive losses. But luckily, they lost only $1.7 million in the time it took to buy and sell the token, which is much better than more. But how did this happen?

How The Ethereum Whale Saved $5 Million 

Many are attributing this pinpoint sale to luck. But that can’t be true. Even experienced traders have found it difficult to make good trades by luck. Logically, this Ethereum Whale relied more on technical analysis and chain-by-chain analysis than on pure luck.

On August 17th, Ether traded around $1,820. This made the whales’ holdings worth $40 million. The next day, when the trader sold, Ether plunged below $1,600. Maybe, instead of hodling through the massive decline, the traders’ indicators warned of a heavy price drop ahead.

The heavy Ethereum Price crash and general decline of the crypto market coincided. The crypto market cap dropped by around $70 billion over the course of 24 hours on August 18th.

Conclusion 

Crypto Trading requires lots of study and care. To make money, a trader in crypto will need to be able to predict the market. An identical thing happened to another Ethereum Whale, who was fast to withdraw their Ether Holdings before the cryptomarket collapse. This trader lost around $1.7 million on the market. But the good thing is, assuming the trader didn’t sell, there’s a potential of a loss of more than $5 million. While there are rumors of luck, it is more of an arranged sale.