Ethereum (ETH) price optimism is again on the rise, with positive news, predictions, and macroeconomics moving the markets. In this context, observers have spotted Ethereum whale traders making massive buys and accumulating ETH, signaling a dominating bullish bias.
On August 2, Lookonchain reported a notable Ethereum trader making waves in the cryptocurrency market with massive historical gains. This whale, in particular, has a remarkable 100% win rate with ETH trades, profiting more than $38 million since 2022.
Notably, this entity has been actively buying 17,012 ETH since May 29, at a $61 million dollar-cost average (DCA). The most recent purchase happened five hours before Lookonchain‘s report, adding 4,000 ETH worth $12.58 million.
According to the onchain analyst, this “smart” Ethereum trader uses four addresses worth monitoring for further insights. As reported, these addresses bought and sold ETH seven times since November 2022, selling at higher prices than previously purchased.
Right now, the main narrative pushing Ethereum forward is its network acting as a decentralized app store. Moreover, institutions are highly interested in the tokenization of real-world assets (RWA).
As things develop, Ethereum traders and investors can follow both decentralized finance (DeFi) and traditional finance (TradFi) updates to get insights on the future of ETH as the world’s leading asset. Nevertheless, like other cryptocurrencies, Ethereum is prone to high volatility and risks tha investors must consider before deploying capital.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
