Altcoin
A whale who made huge profits with the approval of the ETH ETF is now buying these 5 Altcoins
Whale, who accumulated Ethereum before Ethereum ETF approved, is now diversifying into various altcoins and influencing market trends. After making a substantial profit from ETH, this investor is shifting focus to other promising tokens within the Ethereum ecosystem, signaling potential market moves.
From Ethereum to Altcoins: Whale’s strategy
Before the news of the Ethereum ETF broke, a strategic investor accumulated 8,733 ETH, spending 26.67 million USDT at an average price of $3,054 per ETH. This initial investment paid off, yielding a profit of $6 million Ethereum prices soared after the ETF was approved. Not resting on his laurels, the whale then redirected $24.7 million into Ethereum ecosystem tokens, securing an additional profit of $1.1 million. These calculated moves show the whale market’s clever timing and foresight.
On-chain data from Lookonchain reveals that this same investor not only cashed in on profits, but also reinvested a significant portion into the market. 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 within the crypto space.
The ETH ecosystem sees a surge in whale activity
After successful trades on Ethereum, Whale acquired large amounts of altcoins, further diversifying its portfolio. They transferred 9.3 million dollars to Lido (LDO), 6.7 million dollars to UNI and 5.4 million dollars to AAVE, along with smaller amounts in ENS and FXS tokens. This move not only diversifies the whale’s holdings, but could also hint at where smart money sees potential growth.
Furthermore, other large investors or “whales” also show a marked interest in altcoins related to the Ethereum ecosystem. Lookonchain has noticed significant buying activity from these investors, picking up substantial amounts of ENS, UNI, AAVE, LDO, and Chainlink (LINK). This trend is likely indicative of broader investor sentiment seeing value in these tokens, possibly anticipating price increases in the near term.
Following the ETF’s approval, Ethereum ecosystem tokens saw trading volumes increase by 16% in just 24 hours, underscoring heightened investor activity and interest. Although some tokens have seen price increases, the market is still stabilizing due to these changes. Ethereum itself maintains a solid trading position, currently valued at $3,748, up 0.53% from the previous day.
In other developments, the Ethereum Foundation actively managed its funds. He recently moved 1000 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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