Altcoins
Whale Who Made Huge Profits With ETH ETF Approval By Now Buying These 5 Altcoins
Whale, who accumulated Ethereum before the Ethereum ETF approved, is now diversifying into various altcoins and influencing market trends. After making a substantial profit from ETH, this investor is focusing on other promising tokens within the Ethereum ecosystem, signaling potential market movements.
From Ethereum to Altcoins: Whale’s strategy
Before the Ethereum ETF announcement, a strategic investor amassed 8,733 ETH, spending 26.67 million. USDT at an average price of $3,054 per ETH. This initial investment paid off handsomely, generating a profit of $6 million. Ethereum prices soared after the ETF was approved. Not resting on its laurels, the whale then redirected $24.7 million into Ethereum ecosystem tokens, securing an additional profit of $1.1 million. These calculated moves showcase the timing and foresight of the whale market.
On-chain data from Lookonchain reveals that this same investor not only cashed in profits, but also reinvested a significant portion into the market. The whale recently deposited 19.75 million USDT on Binance and moved significant amounts of various altcoins including Lido (LDO), Uniswap (UNI), Ethereum Name Service (ENS), Frax Share (FXS), and AAVE, indicating a broadening of investment interests in the crypto space.
ETH ecosystem sees increased whale activity
Following their successful transactions on Ethereum, the Whale acquired large quantities of altcoins, further diversifying their portfolio. They transferred $9.3 million from Lido (LDO), $6.7 million from UNI and $5.4 million from AAVE, as well as smaller amounts of ENS and FXS tokens. This move not only diversifies the whale’s holdings, but may also indicate where the smart money sees potential growth.
Furthermore, other large investors or “whales” are also showing strong interest in altcoins linked to the Ethereum ecosystem. Lookonchain noted significant buying activity from these investors, scooping up substantial amounts of ENS, UNI, AAVE, LDO, and Chainlink (LINK). This trend is likely indicative of broader sentiment among investors who see value in these tokens, possibly predicting near-term price increases.
Following the ETF’s approval, tokens in the Ethereum ecosystem saw a 16% increase in trading volumes in just 24 hours, highlighting increased investor activity and interest. Although some tokens have seen their prices increase, the market continues to stabilize following these changes. Ethereum itself maintains a strong trading position, currently valued at $3,748, up 0.53% from the previous day.
In other developments, the Ethereum Foundation actively manages its funds. He recently moved 1,000 ETH to a multi-signature address and sold 1,766 ETH for 4.81 million DAI at an average price of $2,725.
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