The whale, which earned $ 36 million by selling the Ether (ETH) it collected from the bottom at the top, now has its eyes on three Ethereum-based altcoins.
Legendary Ether trader is accumulating 3 altcoins from the bottom!
The cryptocurrency market has witnessed investors who have become millionaires in a short time over the past years. One of them, no doubt, was a crypto whale who made $36 million in profits on Ether trading last year. This whale now has 3 Ethereum-based altcoins on its radar and goes into accumulation mode. According to the on-chain analytics platform Looksonchain, the whale appears to be a smart money institution that buys ETH from the bottom and sells it at the top in 2022.
This whale we mentioned returned to the market this year and once again started tossing three Ethereum-based altcoins along with Ether. Looksonchain says the institution’s crypto wallet received 7,669 ETH from Binance on January 4 and February 22 at an average price of $1,492. Considering that ETH was $1,568 at press time, the whale already appears to be in profits of around $600,000.
According to Looksonchain, the whale has also received a total of 86,976 Compounds (COMP) from Binance since the beginning of the year, with the most recent trading on Friday, March 3. The average purchase price of the whale is $39 and COMP is trading at $46 at the time of publication. In this case, the whale is still about 600 thousand dollars in profit in the current situation.
Additionally, the whale purchased 83,815 AAVEs in two transactions in January at an average price of $57. AAVE is trading at $76.70 at press time. So, the whale is in the snow again, and this time its profit is around $1.6 million. The whale’s most recent trade on Binance is today’s purchase of $919,998 Uniswap (UNI). According to Looksonchain, the whale in question appears to be linked to IOSG Ventures as it uses the same Binance deposit address.
APE experiences high whale activity in last 24 hours
Crypto whale watching site WhaleStats said in a post this morning that ApeCoin (APE) is one of the most used smart contracts in the last 24 hours among the top 100 Ethereum (ETH) whales.
https://twitter.com/WhaleStats/status/1632615898388340737
Whale Stats added in a tweet that Uniswap, Shiba Inu (SHIB), 0x0, Polygon (MATIC), and Chainlink (LINK) also made the list in the past 24 hours. At press time, the price of APE has dropped 0.45% in the last 24 hours, according to CoinMarketCap. It also weakened 0.58% and 0.11%, respectively, against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH). As a result, the price of APE is currently trading at $4.81. Meanwhile, trading volume for the altcoin has also dropped a bit in the last 24 hours. Currently, the daily trading volume for APE stands at $72,426,213 after a 10.21% drop.
Daily chart for APE / Source: TradingViewCrypto analyst Danielle du Toit points out the following technical levels for APE. The price of APE has recovered from the key support level at $4,610 over the past 4 days. Yesterday, the price of APE tried to challenge the 9-day EMA line but failed to do so and set a daily high of just $4,909. This recovery can also be seen in the daily Relative Strength Index (RSI) indicator. The daily RSI line saw its slope change from negative to positive between Saturday and Sunday. Traders may want to wait for the price of the APE to close above the 9-day EMA before identifying a long entry for the altcoin.
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