A skilled Ethereum (ETH) whale earned more than 10x profits on Pepecoin (PEPE), according to on-chain data tracking firm Lookonchain.
Lookonchain reports that an Ethereum whale who nicknamed itself the “BlackRock Fund” turned over $244,000 in more than $2.63 million trading PEPE.
“BlackRock Fund bought 1 trillion PEPE ($244,000 at that time) at an average price of $0.0000002431 on April 21, and sold all 1 trillion $PEPE ($2.63 million at that time) at an average price of $ 0.000002627 on May 5.
The profit is ~$2.39 million (10x).”
Now, look at chain say that the mysterious entity took most of its PEPE bag out of Binance for unknown reasons.
“We have noticed that BlackRock Fund has withdrawn 1.27 trillion PEPE ($1.98 million) from Binance to four addresses…
And BlackRock Fund previously earned $2.39 million (10x) from PEPE!”
Lookonchain recently reported another trader on the Ethereum network who made big profits on PEPE and then reinvested them in PEPE during the current price drop. On-chain data shows the entity selling their ETH for more PEPE on the decentralized crypto exchange Uniswap (UNI).
“A Smart Money that earned 1,219 ETH ($2.2 million) on PEPE spent 1,173 ETH ($2.1 million) to buy another 1.33 trillion PEPE… The purchase price is $0.000001586.
He bought 2.24 trillion PEPE with 26 ETH ($48,000) for $0.00000002166, then sold for 1.245 ETH ($2.24 million) for $0.0000009985, making a profit of 48x.
At the time of writing, PEPE is trading at $0.00000156, down nearly 8% in the past 24 hours.
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Featured image: Shutterstock/GrandeDuc/Dilok Klaisataporn
