The rally in Bitcoin (BTC) and altcoins also mobilized whales, who are big investors. In this context, while some whales profit at these levels, some continue to buy altcoins.
Popular on-chain data provider Lookonchain said in a post today that a smart whale bought 1.49 million Arbitrum (ARB) for 1,057 Ethereum (ETH-$2.24 million worth).
The average ARB purchase price of the whale is around $1.5.
“A smart whale bought 1.49 million ARBs for 1,057 Ethereum (worth $2.24 million) today.
The average is 1.5 dollars."
The point that makes this whale smart is not that it buys ARBs in exchange for Ethereum. Lookonchain, which also examined the previous transactions of this whale, said that the winning rate of the whale's transactions was 65%.
Apart from that, the whale made a profit on 15 of the 23 tokens it traded, with a total profit exceeding $7.3 million.
"…This whale is worth watching because it traded a total of 23 tokens, 15 of which were profitable, with a 65% win rate. Total profit exceeds $7.3 million!"
Lookonchaim, who oversees the whale's Polygon (MATIC) trade, said the whale bought 15.73 million MATIC as of July 5, 2022, at an average purchase price of 0.64, and sold it at an average price of $0.84.
Whale has made a profit of over $3 million from the MATIC trade.
Apart from MATIC, it was also stated that the whale also profited from transactions such as RPL, LDO and TRU.
Lookonchain also shared a table of all the altcoins that the whale traded. Accordingly, the whale continues to hold ARB, MAGIC and AGIX tokens.
6/ How to make money with this SmartMoney?
– Follow this SmartMoney to buy spots, buy what he buys, and sell when he sells.
– Or you can long tokens when SmartMoney buys and short when he sells. pic.twitter.com/h2qRgs3f0m
— Lookonchain (@lookonchain) April 14, 2023
*Not investment advice.
