Whale Watch
A big-time investor, nicknamed a “whale” in the crypto world, has been scooping up Ethereum (ETH) like it’s going out of style. This whale has amassed almost $100 million worth of ETH in just two months, even as the price has been dipping.
Blockchain tracker Lookonchain says this whale has been buying ETH from Binance, the biggest crypto exchange, and has already made a profit of $7.5 million.
Smart Money, Too
Another whale, known for making smart moves, has also been buying ETH. This whale has made a profit on every trade and has picked up over $70 million worth of ETH since late May.
Taking Profits
While some whales are buying, others are cashing out. One whale recently sold all of their Pepe (PEPE) tokens, a popular memecoin, for a profit of $5 million.
The Bottom Line
Even though Ethereum’s price has been down lately, some big players are still betting on it. It’s a reminder that the crypto market can be unpredictable, and whales can sometimes make big moves that affect the price.
