A crypto whale recently performed a noteworthy Ethereum ($ETH) buyout

A crypto whale has recently performed a noteworthy Ethereum ($ETH) buyout via $DAI but faced significant losses.

A crypto whale has recently performed a noteworthy Ethereum (ETH) buyout via DAI but faced significant losses, Lookonchain has noted.

As per the on-chain crypto analytical platform's latest post on X, the whale purchased 15,292 ETH by spending 30.8M DAI, resulting in $2.2M in losses.

The whale saw this hefty loss within 10 hours of the transaction, which was carried out through CoW Swap. The respective transfer stands among the biggest recent trades that have taken place on the Ethereum blockchain.

Moreover, the massive losses come amid a huge decrease in Ethereum (ETH) price.

Crypto Whale Buys 15,292 ETH to Face $2.2M in Losses

The whale's transfer of 30.8M DAI to buyout 15,292 ETH has led to a loss of nearly $2.2M in total. Market data shows that the whale completed this buyout through a decentralized trading protocol CoW Swap.

The average price that the whale paid to purchase the respective amount is nearly $2,014 for each Ethereum coin. Hence, this transaction is considered one of the biggest trades occurring on Ethereum.

At present, ETH is trading at up to $1,888, showing a 9.08% decline over the past twenty-four hours. Other than that, over the recent 7 days, it experienced a 9.66% price dip.

During the past month, its price saw an enormous 28.96% decrease. Simultaneously, Ethereum's market capitalization has plunged by 8.53% to reach $228.67B. However, the 24-hour volume stands at $38.92B, displaying a noteworthy 81.05% increase.

According to Lookonchain, the crypto the increased market volatility has resulted in $2.2M unrealized loss for the whale. With this, the whale's holdings have dipped from $30.8M to $28.6M.

Such big trades usually have a substantial impact on the wider market liquidity as well as investor sentiment. In the meantime, market onlookers are eagerly watching for the potential outcomes of this development.