An unidentified whale trader with a flawless track record has been actively purchasing Ethereum (ETH) for several months, as reported by blockchain analytics firm Lookonchain.
According to Lookonchain, a “smart money” whale with a perfect trading record has acquired almost $70 million worth of ETH since late May.
The on-chain data reveals that the whale has been accumulating ETH from Binance, the world’s largest cryptocurrency exchange.
“The smart money investor with a 100% success rate bought 2,424 ETH ($7.22 million)…
They have purchased 19,436 ETH ($68.25 million) at an average price of $3,511 since May 29!”
However, Ethereum’s current price of $2,271 is significantly lower than the trader’s average entry point, with a nearly 20% decline in the past day.
Lookonchain also identified an early investor in Solana (SOL) meme token dogwifhat (WIF) who cashed out after making $24 million in profits.
The firm noted that a group of addresses likely belonging to the same entity made substantial profits from their initial WIF investment, achieving a remarkable return of nearly 13,000X at one point.
“Five wallets (possibly owned by the same individual) sold 14.53 million WIF ($24 million) [hours ago]!
Remarkably, this individual purchased 14.53 million WIF on Nov 30th, 2023, for only $5,340!
They gained a 4,497x return!
If they sold at the peak price, they could have made over $69 million in profit, a 12,927x return!”
At the time of writing, WIF is trading at $1.31, marking an 18% drop in the last 24 hours.
Don’t Miss a Beat – Subscribe to receive email alerts directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/Animedigitalart
