Crypto Whale Accumulates $12.58M of ETH With 100% Win Rate

IconCryptoNewsTerminal Staff01 Aug, 2024

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Crypto Whale Accumulates $12.58M of ETH With 100% Win Rate

Blockchain analytics firm Lookonchain reported via Twitter that an anonymous "smart money address" with a 100% win rate has added 4,000 ETH ($12.58 million) to its holdings. The address has been accumulating ETH since May 29th, totaling 17,012 ETH ($61 million) with an average cost of $3,586. It is currently sitting on an unrealized profit of $7.6 million. The address has made seven ETH trades since November 21st, 2022, and May 23rd of this year, generating over $38 million in profits. This indicates that the holder has a deep understanding of the market and is able to time their trades with precision. The accumulation of ETH by this "smart money address" is a bullish sign for the cryptocurrency. It suggests that large investors are confident in the long-term potential of ETH and are willing to bet big on its future growth.

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