Ethereum trader with 100% win rate is buying ETH at these prices
Ethereum trader with 100% win rate is buying ETH at these prices 
Cryptocurrency Aug 2, 2024 Share
Ethereum (ETH) price optimism is again on the rise, with positive news, predictions, and macroeconomics moving the markets. In this context, observers have spotted Ethereum whale traders making massive buys and accumulating ETH, signaling a dominating bullish bias.
On August 2, Lookonchain reported a notable Ethereum trader making waves in the cryptocurrency market with massive historical gains. This whale, in particular, has a remarkable 100% win rate with ETH trades, profiting more than $38 million since 2022.
Notably, this entity has been actively buying 17,012 ETH since May 29, at a $61 million dollar-cost average (DCA). The most recent purchase happened five hours before Lookonchain‘s report, adding 4,000 ETH worth $12.58 million.
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According to the onchain analyst, this “smart” Ethereum trader uses four addresses worth monitoring for further insights. As reported, these addresses bought and sold ETH seven times since November 2022, selling at higher prices than previously purchased.
A smart money with a 100% win rate bought 4,000 $ETH($12.58M) again 5 hours ago!
This smart money bought and sold $ETH 7 times from Nov 21, 2022 and May 23, 2024, buying at low prices and selling at high prices each time, with a 100% win rate and a total profit of more than… pic.twitter.com/3fnCkyfmQT
— Lookonchain (@lookonchain) August 2, 2024
Ethereum ETF and institutional adoption
Recently, the United States Securities and Exchange Commission (SEC) approved nine Ethereum spot ETFs to trade in the country. This is drawing massive institutional investors’ interest, backed by prominent fund providers and asset managers like BlackRock (NYSE: BLK).
Overall, these exchange-traded funds (ETFs) have seen an outflow of $456.0 million, mostly affected by Grayscale’s (ETHE) selling spree. Excluding Grayscale, the other eight ETH ETFs sum up to nearly $1.6 billion inflow, boosting the demand for Ethereum.
BlackRock’s iShares Ethereum fund (ETHA) has attracted the highest volume of capital, with a $712.80 million inflow alone. Other notable institutions are Bitwise (ETHW), Fidelity (FETH), VanEck (ETHV), Franklin Templeton (EZET), 21 Shares (CETH), and Invesco (QETH).
Total Ethereum Spot ETF Net Inflow USD. Source: CoinGlass
Right now, the main narrative pushing Ethereum forward is its network acting as a decentralized app store. Moreover, institutions are highly interested in the tokenization of real-world assets (RWA).
As things develop, Ethereum traders and investors can follow both decentralized finance (DeFi) and traditional finance (TradFi) updates to get insights on the future of ETH as the world’s leading asset. Nevertheless, like other cryptocurrencies, Ethereum is prone to high volatility and risks tha investors must consider before deploying capital.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
