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.
Bitcoin and the crypto market as a whole experienced a swift recovery this past day, with most prices being in the green.
A cryptocurrency trader recently achieved a staggering 100-fold return by investing in the meme coin First Neiro (NEIRO).
TRON’s founder, Justin Sun, envisions the cryptocurrency climbing to the top three alongside Bitcoin and Ethereum within the next two years.
Arthur Hayes, the founder of BitMEX, has recently praised Aptos (APT) for its potential to address various inefficiencies in the traditional finance (TradFi) sector.