Veteran Trader Nets $108K Profit from WETH Trade

According to analyst Ai, a blockchain address invested over $8 million in USDC to buy WETH, achieving substantial cumulative trading gains since August.

Summary

On-chain analyst Ai (@ai_9684xtpa) reported that a blockchain address spent 8.264 million USDC to acquire 1,778.7 WETH at an average price of $4,646.4. Since August, this address has conducted two swing trades, recording one win and one loss, resulting in a total profit of $930,000.

Terms & Concepts
  • WETH: Wrapped Ether, an ERC-20 token representing Ether (ETH) that allows it to be traded directly with other ERC-20 tokens on the Ethereum network.
  • On-chain Analyst: A researcher who analyzes blockchain transaction data directly from the blockchain to track market activity and trends.