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Home»ALTCOIN NEWS»Trader with 100% accuracy, accumulating Ethereum even during price corrections: Lookonchain
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Trader with 100% accuracy, accumulating Ethereum even during price corrections: Lookonchain

By Crypto FlexsAugust 6, 20242 Mins Read
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Trader with 100% accuracy, accumulating Ethereum even during price corrections: Lookonchain
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According to blockchain tracking firm Lookonchain, an unknown whale trader with a 100% positive track record has been aggressively buying Ethereum (ETH) for months.

Lookonchain revealed that one “smart money” whale with a perfect track record of profiting from trading has accumulated around $70 million worth of ETH since late May.

According to on-chain data, whales are accumulating ETH on Binance, the world’s largest cryptocurrency exchange.

“The smart money with a 100% win rate bought 2,424 ETH ($7.22 million)…

He bought 19,436 ETH ($68.25 million) at $3,511 since May 29th!”

However, Ethereum is currently trading at $2,271, well below the average entry point for traders and down about 20% over the past day.

Lookonchain also found that early investors in Solana (SOL)-based memecoin dogwifhat (WIF) realized profits after generating $24 million in profits.

The company said a series of addresses believed to belong to the same entity had made huge returns on the amount originally invested in WIF, at one point rising nearly 13,000-fold.

“14.53 million WIF ($24 million) sold from 5 wallets (possibly owned by the same person) (hours ago)!

Amazingly, this person purchased 14.53 million WIF on November 30, 2023, for a mere $5,340!

He made 4,497x his profit!

“If he had sold at the highest price, he would have made a profit of over $69 million, a return of 12,927 times!”

At the time of writing, WIF is trading at $1.31, down about 18% over the last 24 hours.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Animedigitalart

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