Whale Invests Heavily in Ethereum and PEPE.
During the price drops in cryptocurrencies, attention always turns to the actions of whales. Generally, when it is seen that whales take advantage of these periods, the situation can be viewed not only as a decline but also as a buying opportunity. A similar situation occurred recently with Ethereum and PEPE, which marked the months of June and July. A whale seemed to have set its sights on these two cryptocurrencies.
Ethereum Whale's Purchases.
A crypto whale was seen turning the weekend's decline into an opportunity. This whale attracted the market's attention by purchasing Ethereum (ETH) worth tens of millions of dollars.
According to a statement by Lookonchain, one of the leading blockchain tracking firms in the market, an Ethereum address starting with "0×78D07" purchased Ethereum worth $4.7 million on Friday, with the total value of its ETH holdings exceeding $100 million.
The statement was as follows:
This whale has accumulated 37,800 ETH ($99 million) at an average purchase price of $2,420 since May 24 and currently has an unrealized profit of $7.5 million.
Lookonchain recently revealed an important piece of information. Since the end of May, an "intelligent money" whale with a perfect track record of closing transactions profitably has accumulated ETH worth $70 million.
On-chain data shows that the whale's purchase of ETH from Binance, the world's largest crypto exchange, is also noteworthy.
The intelligent money with a 100% win rate bought 2,424 ETH ($7.22 million)... Since May 29, it has purchased 19,436 ETH ($68.25 million) at $3,511.
As of the time of writing, Ethereum was trading at $2,595 after a drop of over 3% in the last 24 hours.
Whale Sets Sights on PEPE.
While there was a focus on Ethereum among whales, Lookonchain shared with its followers that another major investor profited from an ETH-based memecoin.
According to the firm, a whale took advantage of the market decline and made a significant profit by selling its remaining PEPE (PEPE).
