A crypto whale that masterfully traded Ethereum (ETH) to the tune of $36 million in profit last year is back in accumulation mode.
According to on-chain analytics firm Looksonchain, the whale appears to be a smart money institution that bought ETH at the bottom and sold it at the top in 2022.
This year, the whale is returning to the market, once again amassing Ethereum and three ETH-based altcoins.
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.
ETH is now worth $1,569 at press time, down 0.1% in the last 24 hours.
The institution has also received a total of 86,976 Compounds (COMP) from Binance since the start of the year, with the most recent trade executed on Friday, March 3.
Median receiving price is $39 and COMP is trading at $46 at press time.
In addition, the institution received 83,815 AAVE in two operations in January at an average price of $57.
AAVE is now worth $76.70 at press time.
Fast forward to today, when the whale made its most recent trade on Binance for 919,998 Uniswap (UNI), priced at $6.
According to Looksonchain, the institution in question appears to be linked to IOSG Ventures because it uses the same deposit address as Binance.
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Featured image: Shutterstock/jamesteohart/Fotomay
