The third-biggest whale on the Ethereum (ETH) network grew its wallet balance by almost $800 million in the month of July.
The deep-pocketed investor’s success can largely be attributed to simply holding ETH as no significant transactions have taken place in the last several months, and the whale has no other significant holdings.
The whale’s performance amounts to gains of over 70% at its peak, largely in line with Ethereum’s growth from the beginning of July to today.
At time of writing, Naruto has 1,490,000 ETH worth roughly $2.51 billion.
Last week, a handful of large crypto investors with “BlueWhale” in their wallet labels were spotted making a flurry of transactions worth hundreds of millions of dollars.
WhaleStats showed BlueWhale0116 scooping up FTX Token (FTT), the native asset of the FTX cryptocurrency exchange. The whale initially paid a staggering $213.2 million for 7,112,942 FTT. The large entity went back for seconds and bought another 2,180,000 tokens with a price tag of $58 million.
Another whale labeled as BlueWhale0097 took a liking to Solana-based decentralized exchange Serum (SRM).
BlueWhale0097 initially purchased 12,299,999 SRM worth $11.5 million, then grabbed 9,999,999 SRM valued at $9.35 million, and finished by snapping up another 10,003,937 SRM also with a value of $9.35 million.
At time of writing, Ethereum (ETH) is trading for $1,689.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Jorm S