A crypto whale who masterfully traded Ethereum (ETH) to the tune of $36 million in profit last year is once again in accumulation mode.
According to the 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 jumping back into the market, once again accumulating Ethereum as well as three ETH-based altcoins.
Looksonchain says the institution’s crypto wallet received 7,669 ETH from Binance on January 4th and on February 22nd, at an average price of $1,492.
ETH is now worth $1,569 at time of publishing, down 0.1% in the last 24 hours.
The institution has also received a total of 86,976 Compound (COMP) from Binance since the start of the year, with the most recent trade executed on Friday, March 3rd.
The average receiving price is $39, and COMP is trading at $46 at time of publishing.
In addition, the institution received 83,815 AAVE in two trades back in January at an average price of $57.
AAVE is now worth $76.70 at time of publishing.
Flash forward to today, when the whale made its most recent trade on Binance for 919,998 Uniswap (UNI), with its price at $6.
According to Looksonchain, the institution in question appears to be linked to IOSG Ventures because it utilizes the same Binance deposit address.
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Featured Image: Shutterstock/jamesteohart/Fotomay