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A notable surge in Ethereum accumulation has been observed as a crypto whale, identified by the blockchain tracking firm Lookonchain, snaps up large amounts of Ethereum. The transactions began in late May, with the whale purchasing $4.7 million worth of Ethereum last Friday alone. This recent buy-in is part of a broader strategy that has added nearly $100 million worth of Ethereum to their portfolio since May 24th, earning them an unrealized profit of $7.5 million.
The savvy investor, who has a track record of profitable trades, has been particularly active, buying low and maintaining a 100% success rate in closing profitable positions. According to Lookonchain, the whale has purchased a total of 19,436 ETH at an average price of $3,511, representing an investment of approximately $68.25 million.
While this investor continues to bet heavily on Ethereum, others in the crypto sphere are taking profits amid the market’s volatility. Another investor has reportedly sold their stash of the Ethereum-based memecoin, Pepe, making a significant profit as they cashed out their 395.92 billion PEPE for a total of $5.06 million, marking a 199% gain.
