Never Wrong So Far: This Trader Bets Big on Ethereum (ETH)

An unidentified whale opened a $45.3 million long position in ether (ETH) with 25x leverage on November 6, as the token fell to nearly $2,200 before trading around $2,240. The token had lost 7% over the previous 24 hours. Lookonchain reported the trade and said the investor has made 10 trades so far, all successful, prompting speculation that the whale may have inside information, though that is not guaranteed. Analyst Michael van de Poppe expects ETH to outperform bitcoin in the coming period, though he said the latest correction makes that scenario more difficult.