According to on-chain data, an investor with big pockets and a profitable trading history is once again taking a large long position on one casino-related digital asset.
Blockchain tracking company Lookonchain say the “smart money” whale reloaded crypto betting platform Rollbit’s native token RLB in early September, following several profitable trades in recent weeks.
“A SmartMoney that was good at buying RLB at low rates and selling at high rates in August spent 1.25 million USDC to buy 7.1 million RLB again in September at $0.175.”
According to the company, the entity has made $358,000 in profits trading RLB to date.
Transactions from last August included buy at $0.106, sell at $0.112, buy at $0.107 and sell at $0.145, and buy at $0.155 and sell at $0.172, according to Lookonchain.
Rollbit is trading at $0.17 at the time of writing, up 5.2% in the past 24 hours.
Look on chain too noticed a major purchase of Rocketpool (RPL), a liquid staking protocol that allows Ethereum holders to stake their coins without holding the 32 ETH normally required to become a validator.
After the massive purchase, the price of RPL increased by more than 9%.
“Who is pumping the price of RPL?
We noticed that a secure multisig wallet spent a total of 450 ETH ($735,000) in the last eight hours to buy 32,820 RPL for $22.40.”
Rocket Pool is worth $24.09 at the time of writing, up 13.1% in the past 24 hours.
Finally, the company highlights one whale making big strides and profits by withdrawing crypto assets from the world’s largest exchange Binance, including more than 11,000 Maker (MKR).
Maker is a decentralized finance protocol (DeFi) that uses smart contracts to enable stablecoin-based lending.
“A smart whale has withdrawn 11,231 MKR ($12.3 million) from Binance in the last four hours.
Since August 23, the whale has withdrawn a large amount of UNFI (Unifi Protocol DAO), LPT (Livepeer) and TRB (Tellor Tributes) from Binance.
And the profit exceeds $4 million at the current price.”
Maker is trading at $1,116 at the time of writing, down 0.6% in the past 24 hours.
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Generated image: Midjourney