In a dramatic twist of cryptocurrency trading, the whale behind the address 0x761 is recalibrating its investment strategy, shifting focus from Shiba Inu (SHIB) to emerging tokens like Fetch.AI (FET) and Neiro (NEIRO) on Ethereum. This strategic pivot follows recent setbacks and aims to reverse significant losses.
Massive Swap – ETH for NEIRO
One of the whale’s most noteworthy transactions involved a substantial swap of 1,003 Ethereum (ETH), worth $2.31 million, for a staggering 2.86 billion NEIRO tokens. This exchange occurred amidst a meteoric 17-fold surge in NEIRO’s price. Despite the dramatic rise, the whale’s recent trading record has been somewhat of a mixed bag. While they reaped a hefty $145 million profit from Shiba Inu between 2021 and 2022, their more recent endeavors have been less rewarding. Notably, the whale has faced losses amounting to $13.48 million from two out of their three recent trades, which included transactions involving SHIB and NEIRO.
SHIB-to-FET Swap Yields Gains
In a notable reversal of fortunes, August brought some relief to the whale’s portfolio. On August 30, they executed a swap of 255.62 billion SHIB, valued at $3.5 million, for 3.114 million Fetch.AI (FET) tokens. This strategic move has paid off, with the whale enjoying an unrealized profit of $715,000, translating to a 20.7% gain as FET’s value surged by 14% by August 31. This gain is particularly significant considering their SHIB holdings had previously suffered a steep 45.9% decline since June 2024, resulting in a loss of $11.51 million.
Current Holdings and Portfolio Overview
As of now, the whale’s investment portfolio showcases a diverse array of assets. The largest portion consists of 4,960 ETH, valued at $11.537 million, which makes up 43% of their holdings. They also maintain a substantial SHIB position, holding 477.511 billion SHIB worth approximately $6.332 million, representing 24% of their portfolio.
Their recent FET investment, now valued at $4.235 million, constitutes 16% of their holdings. Additionally, their investments in NEIRO and NEIROETH are valued at $2.279 million and $1.268 million, respectively, reflecting a strategic, albeit smaller, allocation in these tokens.
In summary, the whale’s recent moves underscore a calculated attempt to navigate market volatility and recover from previous losses. With a diversified portfolio that now includes promising tokens like FET and NEIRO, the whale is clearly leveraging strategic shifts to regain its footing in the ever-evolving crypto landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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