A crypto trader spent $3.8 million to buy Ether at a significantly higher price after selling the asset for almost the same amount about a month ago.
On May 22, blockchain analytics firm Lookonchain reported that a crypto wallet spent $3.8 million to purchase 1,425 Ether (ETH) at $2,670 per coin, reentering ETH after a major rally.
On April 13, the same wallet sold 2,522 ETH for $3.9 million, when the asset was trading at about $1,570, a decision that, in retrospect, looks poorly timed.
“Think twice before selling your bags,” Lookonchain wrote, highlighting the potential gains if the trader just held on to their Ether instead of selling and repurchasing it at a higher price point.
Whale buys ETH after selling over a month ago. Source: DeBankTrader loses out on $2.67 million gain
With ETH up over 70% since the sale, the trader lost out on over 1,000