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Smart Money Wallet Buys 5,283 Ether for $11.48 Million in Two Days

The wallet added 1,344.18 ETH for $2.83 million, bringing its three-day Ethereum accumulation to 6,627.79 ETH worth $14.28 million at an average cost of $2,153.95.

ETH

Summary

A wallet described as smart money bought another 1,344.18 ETH for $2.83 million on-chain, lifting its three-day accumulation to 6,627.79 ETH worth $14.28 million. The combined position has an average cost of $2,153.95 and is currently down $165,000. The source also states that the wallet previously accumulated 11,004 ETH in 2016 at an average cost of $3.45 and realized $30.38 million in profit on that earlier trade.

Terms & Concepts
  • ETH: The ticker symbol for Ether, the native cryptocurrency of the Ethereum blockchain used for transactions, fees, and applications.
  • On-chain: An activity or transaction recorded directly on a blockchain, making the movement of funds publicly traceable.
  • Average cost: The mean purchase price of an asset across multiple buys, used to measure a position’s entry level.