Whale With a History of Profitable Trades Goes Long on Ethereum-Based Casino Coin: On-Chain Data
A deep-pocketed investor with a profitable trade history is once again taking a large long position on one casino-related digital asset, according to on-chain data.
Blockchain tracking firm Lookonchain says the “smart money” whale once again loaded up on crypto gambling platform Rollbit’s native token RLB at the start of September, after several profitable trades in the last couple of weeks.
“A SmartMoney who was good at buying RLB at lows and selling at highs in August spent 1.25 million USDC to buy 7.1 million RLB again at $0.175 in September.”
According to the firm, the entity has so far made $358,000 in profits trading RLB.
Past August trades include buying at $0.106 selling at $0.112, buying at $0.107 and selling at $0.145, and buying at $0.155 and selling at $0.172, according to Lookonchain.
Rollbit is trading for $0.17 at time of writing, up 5.2% in the last 24 hours.
Lookonchain also noticed a big purchase of Rocketpool (RPL), a liquid staking protocol that allows Ethereum holders to stake their coins without holding the 32 ETH normally required to become a validator.
After the massive purchase, the price of RPL bounced by more than 9%.
“Who pumps the price of RPL?
We noticed that a safe multisig wallet spent a total of 450 ETH ($735,000) to buy 32,820 RPL at $22.40 in the past eight hours.”
Rocket Pool is worth $24.09 at time of writing, up 13.1% in the last 24 hours.
Lastly, the firm highlights one whale making big moves, and profits, by withdrawing crypto assets off of the world’s largest exchange Binance, including more than 11,000 Maker (MKR).
Maker is a decentralized finance (DeFi) protocol that uses smart contracts to power stablecoin-based loans.
“A smart whale has withdrawn 11,231 MKR ($12.3 million) from Binance in the past four hours.
Since August 23, the whale has withdrawn a large amount of UNFI (Unifi Protocol DAO), LPT (Livepeer), and TRB (Tellor Tributes) from Binance.
And the profit has exceeded $4 million according to the current price.”
Maker is trading for $1,116 at time of writing, down 0.6% in the last 24 hours.
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