Ethereum
Crypto Trader Nets $59 Million in PEPE, SHIB, ETH and 5 Others, Hints at Future Gains
Recent on-chain data is sparking optimism for some altcoin prices as one crypto trader, amid the bearish turn in the broader market today, executed a potential buy-the-dip strategy. Despite the price declines in Bitcoin and most cryptocurrencies, the trader managed to accumulate $59 million worth of eight different coins including ETH, PEPE, SHIB, RNDR, MATIC, LINK, AVAX, and GRT, hinting at potential gains ahead.
Here is a look at these accumulations and current price movements of the coins mentioned above.
Trader nets $59 million: A look at token holdings
According to data revealed by EmberCN, an on-chain transaction tracking tool, the cryptocurrency trader
with address 0x4fdFE… was recorded as having made colossal purchases. The usual market sentiments reflect a buy-the-dip strategy, as mentioned above.
Ethereum (ETH)
According to data from Arkham Intelligence, the aforementioned address raised 9,425 ETH, worth $30.92 million, today. ETH Price traded at $3,306, down 4.10% over the past day.
It should be noted that with the odds leaning in favor of launching a ETH ETF previewTrader’s Ethereum accumulation has gained popularity significantly.
Pepe Coin (PEPE)
Simultaneously, on-chain data showed that the same trader accumulated 957.7 billion PEPE, worth $9.82 million, today. PEPE Award
fell 7.45% from yesterday to $0.00001043.
The significant drop in the price of Pepe coin, as also evidenced by a 17% drop over the week, may have prompted the trader to enter the PEPE market. Furthermore, this accumulation hints at stronger price movements ahead.
Shiba Inu (SHIB)
The trader also accumulated 583.7 billion SHIB, worth $9.63 million, amid falling SHIB prices. Shiba Inu traded at $0.00001658 today, down 3.15% over the past day.
Rendering (RDNR)
Meanwhile, the address sold 438,700 RNDR, worth $3.13 million, according to the data. This accumulation occurred as the price of RNDR saw a 4.59% decline to $7.29.
It is worth noting that the address currently holds $3.16 million worth of RNDR.
Polygon (MATIC)
The same trader accumulated 5.187 million MATIC, worth $2.81 million, today. The price of MATIC saw a 3.83% decrease to $0.5455.
Chain link (LINK)
104,100 LINK, worth $1.47 million, was also accumulated by the same crypto trader. The price of LINK is down 0.19% today.
Avalanche (AVAX)
AVAX accumulation per address totaled 39.1k coins, worth $1.08 million. AVAX was down 3.86% today and was trading at $27.07.
The cryptocurrency’s monthly charts show a 25% drop in price.
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The graph (GRT)
Finally, the address purchased 2.762 million GRT, worth $0.55 million, capturing the market’s attention.
The price of GRT fell by 3.72% over the past day to trade at $0.2024.
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