A savvy investor spent over $26M to acquire 10,083 $ETH less than 24 hours ago. Lookonchain blockchain trackers revealed the trader raked in millions using ETH swing trades with a perfect winning streak since August 12. Data shows the smart trader made ~$554K from a swing trade on September 26, receiving over $27M for 10,206 ETH.
The investor had traded nine times as of Sep. 26 with a combined profit of $2.11M from the ETH swing trades. His current profit from 10 successful ETH swing trades is $2.14M. The data revealed that he had also added 7,500 $ETH worth $19.3M on the 26th of September within an hour of acquiring the 10,206 ETH via two addresses.
Skilled investor accumulates millions with $ETH swing trades
This smart trader with a 100% win rate in swing trading $ETH bought 10,083 $ETH($26.8M) again 8 hours ago!
Since August 12, he has traded $ETH 10 times, making money every time, with a total profit of ~$2.14M!https://t.co/a80xVafIlu pic.twitter.com/BY8aXlSHir
— Lookonchain (@lookonchain) September 30, 2024
Onchain data showed the trader’s systematic execution of highly profitable back-to-back ETH swing trade investments starting on the 12th of August. The data revealed that the trader bought 9,844 $ETH worth over $24.66M at $2,505 in three separate transactions carried out on August 12, September 1, and September 2. They sold 4,818 ETH for $12.11M at $2,514 on September 2, making a $40.7K profit in three days.
The investor then bought 5,094 ETH for $12.11M at $2,378 and sold them all on the same day at $2,402 for a profit of $123.67K.
On September 6, the trader bought 5,153 ETH worth $12.24M at $2,375 and flipped them all for a $130.45K profit. Still, on the same day, Sep. 6, they bought 5,263 ETH valued at $12.37M and sold them all again on the same day at $2,397, making a $248.43K gain. The trader closed the day by buying 5,379 ETH for $12.62M at $2,345, which they again sold 5 days later on Sep. 11 at $2,377 for $12.79, making $171.73K in returns.
The investor made $174.4K and $140.75K on $ETH swing trades taken on the 16th and 17th, respectively.
The trader added 5,660 ETH to their portfolio for $13.11M at $2,316. They then sold 10,686 ETH in two separate transactions on the 19th and 20th of September for a combined total of $26.23M, resulting in a $530.5K profit.
They made two more successful $ETH swing trades on the 26th and 28th, making a total profit of $576.43K. The account’s latest purchase was 10,083 ETH valued at $26.83M at $2,660 on Sep. 29. The data confirmed that they had made ~2.14M from the ETH swing trades. ETH price had dropped 0.9% to $2,628.75 as of the time of writing on the 30th of September.
Whales are jumping onto the ETH swing trade bandwagon
Lookonchain’s data further revealed that the ETH swing trade trend was gaining popularity among whales. According to the data, a wallet: 0xc08B bought 11,529 $ETH for $28.65M at $2,485 on September 20 and flipped the ETH at $2,618 on the 23rd, making a profit of ~$1.5M.
More active whale addresses identified by Lookonchain include;
0xe0b532985a6b8bfe82a9d1f6f83373c75a7b3c71
0x761df92194faa59ea31b828d1bd27ed95b257d20
0xc5c399701ffa900e894e8dd4672998484619213e
0x533b04842e9eefd524980ea3f0a21f17562b3e6f
0xc08B122Fb1057149f55D49D3D5CEA0D083b37ffb
According to Lookonchain, another sniper acquired 28.03M 3AC for 238 ETH worth 641.5K immediately after 3AC opened for trading. They then sold 24.95 3AC for 799 $ETH worth $2.15M, making ~$1.5M (561 ETH) in profit, and still held 3.08M 3AC worth $369K.
Lookonchain also identified two institutional investors selling substantial ETH worth millions of dollars. On September 28th, the on-chain tracker revealed that a wallet linked to Cumberland had deposited 11,800 ETH worth $31.88M to Coinbase, while another one related to ParaFiCapital withdrew 5,134 ETH worth $13.83M from Lido and deposited it all into CoinbasePrime.
