An on-chain smart money trader recently purchased 4,000 ETH tokens worth $12.58 million, making a move that aligns with their past successful trading patterns.

This trader, noted for a 100% win rate, has consistently bought ETH at lower prices and sold at higher prices, accumulating a profit exceeding $38 million since November 2022. Lookonchain, a well-known crypto surveillance, called attention to this trader’s activities in a recent update.

Strategic Buy and Sell Patterns

The smart money trader’s history of ETH transactions reveals a clear strategy of capitalizing on price dips. Between November 2022 and May 2024, they bought and sold ETH seven times, each time achieving significant profits.

Chart from Lookonchain

Most Recent Transactions

The most recent transaction saw the purchase of nearly 4,000 ETH from Binance to the address 0x75Ba13D7…c778bC62f. Five days prior to the recent ETH purchase, the same address received 2,399.9987 ETH from Binance, reaffirming the trader’s commitment to their established strategy.

Cumulatively, the trader has acquired a total of 17,012 ETH for $61 million at an average price of $3,587 since May. However, the current market price of Ethereum positions the smart investor with a temporary loss of $7.6 million.

At press time, Ethereum trades at $3,150, which is 12% below the investor’s average purchase price of $3,587.

Considering this investor’s track record of success in their Ethereum trading strategies, Lookonchain ponders whether the investor would similarly net a clean sheet in their latest accumulation spree. Overall, the continued accumulation of ETH tokens since May, regardless of price fluctuations, suggests an anticipation of a market rebound.

ETH Addresses in Profit Below $3,156.80

Analysis from IntoTheBlock provides a snapshot of ETH address distributions based on the current price of $3,155. Addresses that acquired ETH between $2,674 and $3,147 are presently profitable.

Conversely, addresses that bought above $3,152 are experiencing losses, potentially contributing to selling pressure if prices do not recover. This positions the smart money trader’s recent purchase as a calculated risk, anticipating a market upswing that could turn current losses into future gains.