Whale Invests Heavily in Ethereum and PEPE

Whale Makes Significant Investments in Ethereum and PEPE

During periods of cryptocurrency market declines, the actions of whales are closely monitored. Whales often capitalize on these downturns, presenting opportunities for savvy investors. Notably, a whale has recently shown keen interest in Ethereum and PEPE, making significant purchases.

Ethereum Whale Accumulates ETH

A whale seized the weekend price decline as a buying opportunity. The whale amassed tens of millions of dollars worth of Ethereum (ETH).

Lookonchain, a leading blockchain monitoring company, reported that an Ethereum address beginning with "0x78D07" purchased ETH valued at $4.7 million on Friday. Their total ETH holdings now exceed $100 million.

"This whale has accumulated 37,800 ETH ($99 million) at an average purchase price of $2,420 since May 24 and currently has an unrealized profit of $7.5 million," Lookonchain stated.

Another "intelligent money" whale with a proven track record has accumulated ETH worth $70 million since late May, Lookonchain revealed.

On-chain data indicates that the whale's ETH purchases were made through Binance, the world's largest cryptocurrency exchange.

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As of this writing, Ethereum was trading at $2,595, down over 3% in the past 24 hours.

Whale Profits from PEPE Memecoin

Lookonchain also identified a major investor who profited from an ETH-based memecoin called PEPE.

The firm reported that a whale took advantage of the market downturn to sell its remaining PEPE and realize a significant profit.

"The whale deposited all of its remaining 395.92 billion PEPE ($3.4 million) into Binance hours ago. The whale made a total profit of $5.06 million (+199%) from PEPE," Lookonchain stated.

At the time of this writing, PEPE continued to trade at $0.000008209, down 4% from the previous day.