This Trader Has Never Been Wrong and Now Bets Big on Ethereum (ETH): Details

Is this a clear signal that ETH is on the verge of a fresh upswing? Earlier this week, the second-largest cryptocurrency briefly spiked to nearly $2,800 before slightly retracing to $2,710 (according to CoinGecko). Some factors suggest it may be gearing up for a new rally, and the actions of one mysterious whale support that view. Inside Information? X user Max Crypto recently revealed that one anonymous trader has opened a $99 million long position in ETH with 25x leverage. What’s interesting (and even shocking) is that the market participant has made 3,156 trades so far and has a stunning 100% win rate. Just this week alone, the whale has generated $5.5 million in profits. The trader opened the massive position when ETH was around $2,660, while the liquidation price is $2,552 (unless the individual adds extra collateral). Of course, such a flawless track record has sparked huge speculation among X users. Very few commentators described the move as gambling, while most believe the whale has access to inside information that has been key to their successful trades so far. Meanwhile, the declining amount of ETH stored on exchanges reinforces the bullish bet. Recently, analytics plat...