Whale Buys Large Amounts of ETH

Ethereum Whale's Strategic Purchases

Amidst market fluctuations, a major cryptocurrency investor seized the opportunity of a weekend downturn to accumulate more Ethereum (ETH). Acquiring ETH worth tens of millions of dollars, this whale caught market attention.

Blockchain tracking firm Lookonchain reports that an Ethereum address starting with "0x78D07" purchased $4.7 million worth of ETH on Friday, increasing its total ETH holdings to over $100 million.

Since May 24, this whale has amassed 37,800 ETH, resulting in an unrealized profit of $7.5 million. Known for its profitability, this "intelligent money" whale has accumulated ETH worth $70 million since May's end.

PEPE Profitability

While Ethereum purchases were notable, Lookonchain reveals another whale profiting from a memecoin tied to ETH. The whale sold its PEPE holdings, securing a substantial profit.

The whale recently deposited 395.92 billion PEPE, equivalent to $3.4 million, into Binance. This move resulted in a total profit of $5.06 million, or a 199% gain from PEPE.

Key Insights

• Whales strategically use market downturns to build substantial holdings.
• One whale accumulated over $100 million worth of Ethereum.
• Ethereum purchases were made at an average price of $2,420.
• The whale secured an unrealized profit of $7.5 million.
• PEPE memecoin also attracted significant whale activity and profits.

These insights highlight the savvy moves made by large investors during market fluctuations, yielding significant returns.