Trader With Huge Gains in The Crypto Market Sets His Sight on This Altcoin
A trader who made over $7 million has set his sights on a new altcoin, which was one of the biggest gainers last week.
According to new data from blockchain-tracking firm Lookonchain, an investor in the cryptocurrency market has recently shown interest in the layer-2 scaling solution Arbitrum (ARB) by investing $2.24 million, equivalent to 1,057 ETH, which has caught the attention of the market.
1/ A smart whale bought 1.49M $ARB with 1,057 $ETH ($2.24M) today, with an average buying price of $1.5.
This whale is well worth keeping an eye on.
Traded a total of 23 tokens, of which 15 tokens are profitable, with a win rate of 65%.
The total profit exceeds $7.3M! pic.twitter.com/8o7ue43LdN
— Lookonchain (@lookonchain) April 14, 2023
This investor started their journey last July by purchasing Polygon (MATIC) for $0.50 and has been successful in their trading strategy. They have a win rate of 65%, leading to profits of over $7.3 million, which makes them a smart whale worth keeping an eye on, according to Lookonchain.
The on-chain data also reveals the investor’s successful trades with other tokens like MAGIC, LDO, and TRU.
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The investor bought a total of 15.73 million MATIC at an average price of $0.64 and sold them for an average price of $0.84, making over $3 million in the process. They also purchased 2.91 million MAGIC at an average price of $0.74 a few months ago. If sold at current prices, they would profit $2.12 million.
Other successful trades made by the investor in 2023 include 1.09 million LDO bought from Binance at $1.20 and later sold for $2.20, generating a profit of $1.09 million, and 23.5 million TRU bought from Binance at an average price of $0.07 and later sold for $0.10, generating a profit of approximately $643,000.
Currently, ARB is trading at $1.70, indicating a 19% increase in the past 24 hours. This investor’s interest in ARB has certainly caught the market’s attention, and their successful trading history is worth monitoring.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
