While it is a matter of curiosity whether there will be a big rise in Ethereum, which has been in a downward trend lately, whales continue to accumulate ETH. Although FTX and Alameda Research transferred ETH before significant price drops, they still deposited approximately $14.4 million worth of altcoin ETH to Coinbase and Binance.
Whales trust ETH
While it is a matter of curiosity whether there will be a big rise in Ethereum, which has been in a downward trend lately, whales continue to accumulate ETH. Although FTX and Alameda Research transferred ETH before significant price drops, they still deposited approximately $14.4 million worth of ETH to Coinbase and Binance.
Since the beginning of April, Justin Sun and other whales have also accelerated their Ethereum purchases. According to Lookonchain’s data, an address labeled Justin Sun and three whale addresses purchased a total of approximately $91.8 million worth of Ethereum from Binance.
Meme coin investments attracted attention
According to information based on onchain data by Lookonchain, a crypto whale made a big profit by purchasing MANEKI, one of the memecoins in the Solana ecosystem. The whale turned 110 thousand dollars worth of MANEKI into 8.72 million dollars in just three hours. Although Whale took a big risk by purchasing 11.51% of the total supply of MANEKI tokens, this risk brought him a huge profit.
According to another tweet from Lookonchain, another interesting whale attracted attention. The analysis company shared the investor’s story. This investor made a huge profit with his investment in BOME, one of the memecoins in the Solana ecosystem. He sold BOME, which he bought for 300 SOL (about 110,000 dollars), for 6,795 SOL (about 1.23 million dollars), thus increasing his profit 11 times.
Traded 60 different altcoins
More interestingly, after Binance announced that it would list BOME, the investor bought another 3,000 SOL of BOME from another exchange and transferred it to Binance. This move was likely aimed at making more gains since the BOME price was higher on Binance.
But it seems that this investor is not always lucky. According to the information shared by Lookonchain, the same investor bought ANSOM for 100 SOL at a high price 4 hours ago due to FOMO (Fear Of Missing Out). However, due to the decrease in the price of ANSOM, it closed its investment at a loss and lost 46.13 SOL. Finally, Lookonchain shares the image below and states that this investor has traded approximately 60 different coins in the last 5 months and his winning rate is below 33%. This example highlights that memecoin trading is high risk and the luck factor plays an important role.
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