According to Foresight News, a whale address suspected to be associated with Longling Capital has made a significant purchase of 6,000 ETH, valued at approximately $21.91 million, following a recent decline in Ethereum's price. This address is known for its strategy of buying low and selling high, having accumulated profits of $83 million through such transactions.
Since May 8, 2023, the address has acquired a total of 75,400 ETH at an average price of $2,392 per ETH, amounting to roughly $180.4 million. In contrast, it has sold 50,800 ETH at an average price of $3,401 per ETH, generating approximately $172.8 million. This strategic trading approach has allowed the address to capitalize on market fluctuations effectively, demonstrating a keen ability to time the market for maximum profit.