A crypto whale who masterfully traded Ethereum (ETH) to the tune of $36 million in profit last year is once again in accumulation mode.
According to the on-chain analytics firm Looksonchain, the whale appears to be a smart money institution that bought ETH at the bottom and sold it at the top in 2022.
This year, the whale is jumping back into the market, once again accumulating Ethereum as well as three ETH-based altcoins.
Looksonchain says the institution’s crypto wallet received 7,669 ETH from Binance on January 4th and on February 22nd, at an average price of $1,492.
ETH is now worth $1,569 at time of publishing, down 0.1% in the last 24 hours.
The institution has also received a total of 86,976 Compound (COMP) from Binance since the start of the year, with the most recent trade executed on Friday, March 3rd.
The average receiving price is $39, and COMP is trading at $46 at time of publishing.
In addition, the institution received 83,815 AAVE in two trades back in January at an average price of $57.
AAVE is now worth $76.70 at time of publishing.
Flash forward to today, when the whale made its most recent trade on Binance for 919,998 Uniswap (UNI), with its price at $6.
According to Looksonchain, the institution in question appears to be linked to IOSG Ventures because it utilizes the same Binance deposit address.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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 loses 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/jamesteohart/Fotomay
The post Whale Who Netted $36,000,000 By Masterfully Trading Ethereum Is Now Accumulating Three ETH-Based Crypto Assets: Looksonchain appeared first on The Daily Hodl.
