The skyrocketing prices of cryptocurrencies have helped millions of investors to gain significant profit. Bitcoin, Ethereum, Dogecoin, and Solana have attracted a huge spotlight since the beginning of this year.
A blockchain analysis and watcher firm, Lookonchain most recently reported that a trader bought 89.9 million $ELIZA tokens for 7.84 $SOL valued at over $1,800. It is worth noting that in just a couple of hours, they successfully sold 49.49 million $ELIZA for the sum of 7,091 $SOL equal to $1.72 million.
Even after selling such a massive chunk they still hold 39.7 million $ELIZA worth roughly $1.96 million, which makes the collective gain of $3.68 million.
Some major whale transactions that have been tracked include the withdrawal of 2,189 Bitcoin from Binance; now the address holds BTC roughly valued at $2.19 billion. The account held by Pumpfun fee sold Solana worth over $25 million.
Whale Alert tracked down and reported that an unknown wallet had transferred 622 Bitcoin to Binance. Versus Whale Alert most recently reported that an address has Ethereum worth $63,734.36. As per data available on chain notes, a whale address has sold 677,863 GIGA tokens booking profits in millions.
As per experts, the trader behind booking huge gains by selling $ELIZA seems to be a potential trader with precise knowledge and understanding of timing in cryptocurrencies.
The keen eye of the traders demonstrates how a proper understanding of trading can help to book huge profits in less time.
What has helped investors to book significant profit since 2024?
Several factors helped investors to book massive profits, but primarily the sudden spikes in the trading prices of cryptocurrencies; Bitcoin, Solana, Dogecoin, and Floki have surged at an appreciable pace.
Since the last session, a major movement in the digital assets held by whales and ancient wallets has been observed.
The majority of wallets have cashed out some of their holdings in order to book some profit, on the other hand, some have increased the security of their funds and shifted to other locations or wallets.
Whale and shark wallets holding over 10 BTC accumulated a total of 234,150 BTC over the past year. As Bitcoin approached the $90K milestone, the crypto community’s sentiment transformed from fear to euphoria.
Despite the huge selling price, adoption, and trading volume continue to surge to new heights. Bitcoin, the most prominent crypto, has most recently crossed its old all-time high reaching above the mark of $93,000, until publishing it was trading at $92,169 registering intraday growth of 1.82 percent.
If whales continue their buying spree while retail investors sell during market dips, Bitcoin’s upward trajectory could remain intact.
The rise in Bitcoin’s value has also driven significant growth in the trading prices of memecoins and altcoins. On November 12, Today reported that Dogecoin, the market’s oldest memecoin, experienced an extraordinary 42% surge within a 24-hour period, a rare occurrence for the memecoin category.
While the prices of several cryptocurrencies have climbed, market volatility has intensified. Despite the overall bullish trend, some penny cryptocurrencies are facing challenges in this turbulent environment.
