According to Odaily, a prominent on-chain analyst known as Yu Jin has reported that a whale investor recently faced a substantial loss after a failed bet on Ethereum's price movement. This marks the investor's third loss in a series of trades.
The whale initially entered the market a week ago when Ethereum's price surged to $3,400 before beginning to decline. The investor bought in at $3,300, anticipating a continued rise in Ethereum's value. However, contrary to expectations, Ethereum's price fell back to $3,000.
Last night, as Ethereum's price saw a slight increase, the whale decided to cut losses and liquidate the position. The investor sold 10,364.2 ETH at a price of $3,181, resulting in a loss of $1.22 million. This transaction concluded the investor's 16th trading round, which ended with 13 wins and 3 losses.
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