Whale Profits Big on ETH ETF Approval, Now Accumulating These 5 Altcoins: ETH, ADA, SOL, DOT, and LINK
The post Whale Profits Big on ETH ETF Approval, Now Accumulating These 5 Altcoins: ETH, ADA, SOL, DOT, and LINK appeared on BitcoinEthereumNews.com.
A whale who profited from Ethereum ETF approval is now diversifying into altcoins, impacting market trends and investor sentiment. The investor made a $6 million profit from early Ethereum investments and secured an additional $1.1 million from subsequent trades. Recent data shows the whale reinvested 19.75 million USDT into Binance and bought significant amounts of LDO, UNI, and AAVE. A whale who profited from Ethereum ETF approval is now diversifying into altcoins, impacting market trends and investor sentiment. From Ethereum to Altcoins: Whale’s Strategy Before the Ethereum ETF news broke, a strategic investor amassed 8,733 ETH, spending 26.67 million USDT at an average price of $3,054 per ETH. This early investment paid off handsomely, yielding a $6 million profit as Ethereum prices soared following the ETF approval. Not resting on their laurels, the whale then redirected $24.7 million towards Ethereum ecosystem tokens, securing an additional profit of $1.1 million. These calculated moves showcase the whale’s adept timing and market foresight. ETH Ecosystem Sees Surge in Whale Activity On-chain data from Lookonchain reveals that this same investor has not only cashed in profits but also reinvested a significant portion back into the market. The whale recently deposited 19.75 million USDT into Binance and moved substantial amounts of various altcoins, including Lido (LDO), Uniswap (UNI), Ethereum Name Service (ENS), Frax Share (FXS), and AAVE, indicating a broadening of investment interests within the crypto space. Following their successful Ethereum trades, the Whale has acquired large quantities of altcoins, further diversifying their portfolio. They transferred $9.3 million worth of Lido (LDO), $6.7 million in UNI, and $5.4 million in AAVE, alongside smaller amounts in ENS and FXS tokens. This move not only diversifies the whale’s holdings but also may hint at where smart money sees potential growth. Moreover, other large investors or “whales” are…
Filed under: News - @ May 26, 2024 12:18 am