Crypto Whale Makes $24 Million in Profits Trading Wrapped Bitcoin (WBTC) According to On-Chain Data
A crypto trader, known as a "smart whale," has made massive profits trading Wrapped Bitcoin (WBTC) by consistently buying at low prices and selling at higher prices. The trader deposited 1,957 WBTC worth $74.6 million into Binance on Friday, according to blockchain tracking service Lookonchain. WBTC is an ERC-20 token that allows traders to speculate on Bitcoin while staying within the Ethereum ecosystem. Lookonchain also recently spotted a wallet that participated in the Ethereum initial coin offering (ICO) nearly 10 years ago, which deposited 20,000 ETH to another wallet with 10 ETH eventually going to the crypto exchange Kraken.
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