In the latest update from Spotonchain, a strategic move by a prominent investor in the crypto market has been highlighted. The investor, known as the whale with the address 0x761, has been making significant shifts in their portfolio amidst the struggling prices in the crypto market.
The whale, who had previously made substantial gains from SHIB, has now turned their attention to other tokens, particularly Fetch.AI and Neiro on the Ethereum network, in an effort to recover from recent losses. One of the whale’s latest moves involved swapping 1,003 Ethereum (ETH), worth $2.31 million, for 2.86 billion NEIRO tokens. This exchange took place as NEIRO experienced a dramatic 17-fold increase in its price. However, despite this rise, the whale’s recent trades have shown mixed results.
Although the whale had previously made $145 million from Shiba Inu between 2021 and 2022, their recent trades have not been as successful. Two out of their three latest trades, including the NEIRO exchange and another SHIB trade, resulted in $13.48 million in losses.
In August, there was a promising turn in the whale’s strategy as they swapped a portion of their SHIB holdings for FET. On August 30, the investor exchanged 255.62 billion SHIB, valued at $3.5 million, for 3.114 million FET. This move proved to be beneficial, as the whale held an unrealized profit of $715,000, or a 20.7% gain, due to a 14% rise in FET’s value by August 31.
Currently, the whale’s largest asset is 4,960 ETH, valued at $11.537 million, making up 43% of their total portfolio. They also hold 477.511 billion SHIB, worth around $6.332 million, representing 24% of their holdings. Their FET investments are valued at $4.235 million, accounting for 16% of their portfolio. Additionally, they have smaller investments in NEIRO and NEIROETH, valued at $2.279 million and $1.268 million, respectively.
With the whale’s recent moves and portfolio breakdown in mind, the question remains: Will this investor succeed with NEIRO this time? Stay tuned to Spotonchain for more updates on this intriguing story.