The on-chain analyst, Lookonchain, has divulged intriguing insights into the transactions of a shrewd trader known as the ‘Smart Money.’ This individual has reaped a staggering $7 million in profits through astute Ethereum (ETH) trades executed with impeccable timing. Presently, Smart Money holds a substantial 20,891 ETH, valued at $36.7 million. Lookonchain has coined the term ‘Smart Money’ to describe other such savvy traders.
Lookonchain has provided a comprehensive breakdown of the transactions the ‘Smart Money’ made through a concise two-part Twitter thread. The thread is accompanied by screenshots of the trades, offering a clear and insightful view of the workings of these transactions.
On the 5th of July in 2022, the astute investors known as the ‘Smart Money’ made a strategic move by withdrawing 10,579 ETH from the operational FTX platform at $1,120. Subsequently, they capitalized on a USDC de-pegging event by utilizing 44 million USDC to procure 27,957 ETH at a reduced price of $1,573. This calculated maneuver showcases the shrewdness and acumen of the ‘Smart Money’ investors.
On the 21st of March in 2023, precisely six hours before the tweet, the ‘Smart Money’ made a shrewd move by selling 4,000 ETH on Uniswap at a lucrative price of $1,753 per ETH, raking in a whopping $7 million. Lookonchain’s analysis suggests that the price of ETH may have experienced a 2% dip due to this sell-off by ‘Smart Money.
Subsequently, the astute investors known as the ‘Smart Money’ have transferred a staggering 16,000 ETH, valued at a remarkable $28 million, to the esteemed Binance platform. Their impressive portfolio boasts 20,891 ETH, worth $36.7M, with an average holding cost of $1,464. This exemplifies their shrewd investment strategy and unwavering commitment to maximizing returns.
Lookonchain strategically showcased trades to inspire its followers to make informed decisions. The astute ‘Smart Money’ recognized the potential of the USDC de-pegging event and capitalized on it by purchasing ETH at a discounted rate. Additionally, they expertly timed the sale of 4,000 ETH on Uniswap to align with a peak in ETH’s value, resulting in optimal profits.
The on-chain analyst recommends that their audience remain vigilant for the subsequent potential divestment by the “Smart Money.”
