Crypto Giant Gobbles Up Ethereum and Dumps Pepe for Huge Profits
12.08.2024 17:00 1 min. read Alexander Stefanov
A major cryptocurrency investor has been actively buying up Ethereum (ETH), suggesting a strategic move to take advantage of lower prices.
According to Lookonchain, a notable Ethereum wallet with the address starting “0x78D07” acquired more than $4.7 million in ETH recently, increasing its total ETH holdings to nearly $100 million.
This investor has been accumulating ETH since May 24, with a total of 37,800 ETH purchased at an average price of $2,420 each, resulting in an unrealized gain of $7.5 million.
In addition, another savvy investor with a flawless profit history has been stockpiling ETH from Binance. Since late May, this investor has added around $70 million worth of ETH to their portfolio.
As Ethereum’s current price stands at $2,683, showing a 2% increase in the last day, one high-profile investor is also cashing out on the memecoin Pepe (PEPE).
This individual sold their remaining 395.92 billion PEPE tokens for $3.4 million, securing a profit of $5.06 million, or a 199% return.
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