Whale buys back ETH holdings after missing $2.6M gain
A crypto trader spent $3.8 million to buy 1,425 Ether (ETH) at $2,670 per coin after previously selling 2,522 ETH for $3.9 million at $1,570. This decision resulted in a loss of over $2.67 million, as ETH's price increased by over 70% since the sale. If the trader had held onto their Ether, the assets would now be worth approximately $6.7 million. Ether's market capitalization reached $321 billion, making it the 38th most valuable asset globally, surpassing companies like AbbVie and Coca-Cola. The recent price surge is attributed to the successful launch of the Pectra upgrade, enhancing scalability and user experience. Additionally, ETH-based investment products in the U.S. saw significant inflows, with $205 million last week, contributing to a year-to-date total of over $575 million amid renewed investor optimism following the upgrade and leadership changes at the Ethereum Foundation.
