The post This Early Crypto ICO Investor Made $300M Buying Ethereum appeared first on Coinpedia Fintech News
The wallet has sold another $12.22 million worth of ETH this week.
After investing $46K in Ethereum’s 2014 ICO, the trader is now worth over $300 million.
ETH Whale Takes Profit After 2-Year Break
A whale who has been around since the Ethereum genesis has made over 6,500x by investing in the ICO.
X analytics account Lookonchain first reported on the wallet on 27 September, noticing that it sent ETH to Kraken after being dormant for two years.
Over four days, the wallet sent 12,010 ETH worth $31.6 million to the exchange.
However, the trader has continued to take profits since.
Between 1-3 October, the wallet sold another 19,000 ETH, totalling an eye-watering $47.54 million.
The most recent sale came on 8 October and was for 5K ETH worth $12.22 million.
Within two weeks, the Ethereum whale has gained over $80 million.
It has led to a lot of interest, with one popular response to Lookonchain’s analysis calling the trader “legendary” and asking whether he has any more “big moves” planned.
From $46.5K to $358M, this is a legendary Ethereum play. Wondering if this participant has more big moves planned.
— Kimz
(@SpyMk2124) October 3, 2024
The Ethereum ICO, which took place on 2 September 2014, raised $18.66 million at a price of $0.311.
The trader’s $300 million profit underlines the advantage of getting into projects early and with high conviction.
Within a decade, he has generated gains beyond imagination.
However, the $46K investment was no laughing matter – it’s a huge sum of money. This reflects the captivating allure of Ethereum and the significant interest it has received since day one.
Today, we can also see a similar phenomenon with the new ICO token Pepe Unchained.
It has received multiple whale buys for $50K or more, and its total raise exceeds $18 million, neck-and-neck with Ethereum’s ICO raise. Could this be the next millionaire-making presale?
Is Pepe Unchained the Best ICO to Invest in? Meme Coin Presale Raises Over $18M
The current market cycle is being dubbed the “meme coin supercycle,” and Pepe Unchained developers are taking full advantage.
But they’re not just building a meme coin – they’re building a blockchain for meme coins.
It’s an Ethereum layer 2 network connected via a dedicated bridge. It promises 100x faster speeds and much lower fees than Ethereum.
The Pepe Chain will also offer staking, a block explorer, advanced analytics, a decentralized exchange, and more.
They’ve already revealed that they’re in talks with tier-1 exchanges to list after the presale, which will open $PEPU to tons of new investors and liquidity.
And with a use case that simultaneously tackles Ethereum’s scalability issue and taps into the viral meme coin mania, there will be a lot of interest.
Expert analysts are already taking note. For instance, ClayBro said that it can 100x in price.
Meanwhile, Etherscan data shows smart money whales are buying in. For instance, one trader bought $51K worth of $PEPU last week, while another invested $16K on Tuesday.
Investors are doubling down on the $PEPU presale, and many are likely hoping for a rerun of Ethereum’s ICO gains.
This is fueled by Pepe Unchained’s use case as a scalable meme coin blockchain, aligning perfectly with the current market dynamics.
