Ethereum Whale’s valuation jumped from $20.5 million to $391 million.
The address ranks 221 on the list of top Ethereum accounts with 58.8K ETH.
The crypto market has continued to witness the tremendous hype of memecoins since the beginning of 2023. A torrent of events — from Shiba Inu’s Shibarium, and Dogecoin’s Twitter cameo to viral PEPE and emerging new memecoins — locked investors in the “memecoin season.”
In the middle of this meme frenzy, trade patterns of crypto whales are keenly detected on the crypto radar. A crypto whale tracker @cyrilXBT on Twitter highlighted the activity of one of the top 300 Ethereum whales. The whale address 0x46f8 skyrocketed nearly 1800% in valuation in a year from $20.5 million to $391 million.
According to the on-chain data from Etherscan, the account had initiated 1,803 transactions involving 256 assets on the Ethereum blockchain. At press time, reportedly, it held 58,885 ETH.
Notably, the whale accumulated and holds 4.88 trillion SHIB in the balance alongside the other insignificant memecoins. It acquired metaverse tokens such as Decentraland (MANA), Render Token (RNDR), The Sandbox (SAND), Gala (GALA), Axie Infinity (AXS), ApeCoin (APE) and Enjin Coin (ENJ). Additionally, the account’s portfolio included Web3 tokens such as Basic Attention Token (BAT), Audius (AUDIO), Chiliz (CHZ) and tokens of DeFi protocols — ANKR, CRV, AMP, and so on.