Whale Investor Earns $1.67 Million Profit from Single Trade, Makes New Altcoin Purchases: Spotlight on Coin Name (Symbol)

• A crypto whale wallet has been making substantial purchases of certain altcoins in recent days, according to on-chain data.
• Analysts from crypto analysis platform Lookonchain have shed light on the recent transactions of this whale, which currently holds altcoins worth $23.3 million.
• This whale wallet, known by the short address 0xd876, had previously made a profit of $1.67 million from trades in the Fantom (FTM) altcoin.

A crypto whale has been making significant purchases of certain altcoins, including Maker (MKR), Fantom (FTM), and PEPE, according to on-chain data.

Whale’s Recent Purchases

According to the analysts, the whale has recently purchased Maker (MKR), Fantom (FTM), and PEPE. On May 7, the whale spent $2.26 million to buy 3.18 million FTM. This same whale had previously bought FTM at $0.33 on January 24 and sold it at $0.83 on March 19, making a profit of $2.8 million.

Whale’s Previous Trades

The whale wallet had previously made a profit of $1.67 million from trades in the Fantom (FTM) altcoin. In addition to this, the whale wallet recently spent $1.25 million to buy 464 MKR tokens at a rate of $2,697. On April 30, the whale had spent $1.22 million to buy 428 MKR at a rate of $2,846. On May 8, the whale spent $558,000 to buy 70 billion PEPE tokens.

Conclusion

This recent activity by the whale wallet highlights the significant impact that large-scale investors can have on the crypto market. It also underscores the potential profits that can be made from strategic trading in altcoins. However, it is important to note that this is not investment advice and individuals should do their own research before making any investment decisions.