Ethereum

Cryptocurrency

PEPE

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-buys-large-amounts-of-eth" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Buys Large Amounts of ETH</a><br></p>
<p style="text-align: justify">Cryptocurrency prices often fluctuate, and during such times, the actions of large <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, known as whales, garner significant attention. Recently, an instance of this was observed with Ethereum and PEPE, especially throughout June and July. A notable whale appears to have focused on acquiring these two digital assets.</p>
<h2 id="ethereum-whale-s-strategic-purchases">Ethereum Whale’s Strategic Purchases</h2>
<p style="text-align: justify">A major cryptocurrency investor utilized the market downturn last weekend to accumulate more Ethereum (ETH). This whale managed to buy ETH worth tens of millions of dollars, grabbing the market’s attention in the process. According to blockchain tracking firm Lookonchain, an Ethereum address starting with “0x78D07” acquired $4.7 million worth of ETH on Friday, increasing its total ETH holdings to over $100 million.</p>
<p style="text-align: justify">The whale’s activities were further detailed by Lookonchain, reporting that since May 24, the investor has amassed 37,800 ETH at an average purchase price of $2,420, resulting in an unrealized profit of $7.5 million. Moreover, this so-called “intelligent money” whale, known for its profitability, has accumulated ETH worth $70 million since the end of May.</p>
<h2 id="why-did-the-whale-buy-pepe">Why Did the Whale Buy PEPE?</h2>
<p style="text-align: justify">While Ethereum purchases were prominent, Lookonchain revealed that another significant investor also profited from a <a href="https://en.bitcoinhaber.net/bitcoin-reaches-record-70000" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> tied to ETH. This whale capitalized on the market decline by selling its remaining PEPE holdings, securing a substantial profit.</p>
<p style="text-align: justify">The whale deposited 395.92 billion PEPE, equivalent to $3.4 million, into Binance recently. This move resulted in a total profit of $5.06 million, marking a 199% gain from PEPE.</p>
<p style="text-align: justify">As the article stands, PEPE is trading at $0.000008209 after experiencing a 4% drop during the day.</p>
<h2 id="key-insights">Key Insights</h2>
<p style="text-align: justify">– Whales often utilize market downturns to amass significant holdings.<br> – A single whale accumulated over $100 million worth of Ethereum.<br> – Ethereum purchases by this whale were made at an average price of $2,420.<br> – The whale secured an unrealized profit of $7.5 million.<br> – PEPE memecoin also attracted significant whale activity and profits.</p>
<p style="text-align: justify">These insights underscore the strategic moves made by large investors during market fluctuations, often resulting in significant profits.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-buys-large-amounts-of-eth" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Buys Large Amounts of ETH</a></h5>

Whale Buys Large Amounts of ETH

Table of Contents

BH NEWS

Other articles published on Aug 12, 2024

Elon Musk sued for $20m X shares

Ripple Ordered to Pay $125M in Securities Law Violation Case, Possibly Ending SEC vs. Ripple Conf...

Pepe Unchained Raises $8.3M In ICO As Layer 2 Chain Nears Launch

This Meme Coin Hailed as One Of the World’s Best Crypto Presales And Dogwifhat Has Seen a Remarka...

Surge in Stablecoin Issuance Fuels Bitcoin’s Swift Recovery

Bitcoin Retreats Below $60K as Liquidity Heatmap Outlines the Next Crucial Support Line

Join our free newsletter for daily crypto updates!