An unknown whale trader with a 100% positive track record has been aggressively buying Ethereum (ETH) for months, according to blockchain tracking firm Lookonchain.
Lookonchain says one “smart money” whale with a perfect track record of closing trades in profit has accumulated nearly $70 million worth of ETH since late May.
On-chain data shows the whale accumulating ETH from Binance, the largest crypto exchange in the world.
“The smart money with a 100% win rate bought 2,424 ETH ($7.22 million)…
He has bought 19,436 ETH ($68.25 million) at $3,511 since May 29!”
However, Ethereum is now significantly below the trader’s average entry point as ETH is currently trading at $2,271, down nearly 20% in the past day.
Lookonchain also spotted an early investor in Solana (SOL)-based memecoin dogwifhat (WIF) taking profit after making $24 million in gains.
The firm says a series of addresses likely belonging to the same entity made massive profits off their original WIF investment and was at one point up nearly 13,000X.
“Five wallets(may belong to the same person) sold 14.53 million WIF ($24 million) [hours ago]!
Incredibly, this guy bought 14.53 million WIF on Nov 30th, 2023, and the cost was only $5,340!
He got a 4,497x return!
If he sold at the highest price, he would have made a profit of more than $69 million, a 12,927x return!”
At time of writing, WIF is trading at $1.31, down nearly 18% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Animedigitalart
