Onchain analytics firm Lookonchain identified an Ethereum (CRYPTO: ETH) whale losing $13 million in the past six months as market participants expect the start of an uptrend.
What Happened: The whale trader last purchased 2,117.7 ETH, equivalent to $5.17 million, as Ethereum is up 7% over the past week.
However, this was not the first time the investor had made such a move.
Lookonchain pointed out that the same investor was liquidated for 6,078 ETH ($14.7 million) when the price plummeted on Aug. 5. In the past six months, the investor has lost $13 million by going long on ETH.
In total, the trader has gone long on ETH five times, losing four times, which results in a win rate of only 20%.
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