A smart money wallet address, known for its impeccable 100% win rate, recently acquired 4,000 Ethereum worth $12.58 million, according to on-chain sleuth Lookonchain. The term “smart money” refers to capital-controlled traders and investors with a deep understanding of the market, often considered to have insider knowledge, superior analytical skills, or access to advanced tools and data.
Lookonchain shared a post on social media platform X (formerly Twitter), highlighting the smart money’s history of purchasing Ethereum at low prices and selling at high prices between 2022 and 2024. This specific wallet has executed seven successful trades since November 2021, consistently buying low and selling high, resulting in a total profit of over $38 million.
The wallet has bought a total of 17,012 Ethereum, worth $61 million at an average price of $3,587 since May 29, but has faced a loss of $7.6 million at the current price.
In related news, Ethereum spot ETFs have seen rising inflows. The U.S. Securities and Exchange Commission (SEC) approved several spot Ethereum exchange-traded funds (ETFs) in July. On Tuesday, BlackRock’s iShares Ethereum Trust ETF saw $118 million in inflows, according to data shared by Fireside Investors.
On August 1, Ethereum spot ETFs recorded a significant net inflow of $26.7 million, following $77.2111 million in outflows the previous day. Fidelity’s Ethereum Fund (FETH) was the second favorite among investors, garnering $16.4 million.
Ethereum remains the second most popular cryptocurrency. As of Friday at press time, Ethereum was trading at $64,296.61, up 0.2%.
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