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Trader Swaps $30M stETH for USDC in Wintermute Transaction

On-chain data shows a crypto address with over $99M ETH trading gains sold 10,000 stETH for $30.03M USDC, retaining substantial ETH holdings and unrealized profits.

ETH
USDC
STETH

Summary

A blockchain address identified as 0xd45...FB20 sold 10,000 stETH to market maker Wintermute, receiving $30.03 million in USDC, according to on-chain data. This was its first sale since January 12, after accumulating 70,013 ETH at an average price of about $2,907. The transaction generated $1.039 million in profit, while the address still holds 60,013 ETH with $7.243 million in unrealized gains. The holder’s cumulative ETH trading profits have now reached $99.22 million.

Terms & Concepts
  • stETH (staked Ether): A liquid token representing staked ETH and accrued rewards, commonly issued by platforms like Lido.
  • USDC (USD Coin): A U.S. dollar–pegged stablecoin used for trading, payments, and settlement on crypto networks.
  • ETH (Ether): The native cryptocurrency of the Ethereum network, used for transaction fees and as a store of value.