Whale Who Sold $408 Million in Ethereum Buys This Altcoin, Nets Millions in a Week

UNI worth $24.2 million, bought about a week ago by a whale who previously sold $408 million in Ethereum, has reached $3.8 million in unrealized gains.

On-chain analytics platform Lookonchain reported that the whale, who drew attention with a large Ethereum sale, has now been accumulating Uniswap (UNI). According to a post dated October 1, the investor bought 3,125,000 UNI about a week earlier at an average price of $7.75.

The position, with a total cost of approximately $24.2 million, had risen in value to about $28 million, based on the profit calculation at the time of the post. This means the value of the whale’s UNI investment increased by approximately 16%; the $3.8 million gain has not yet been realized through a sale.

UNI purchase followed Ethereum sale

The whale’s previous major transaction involved Ethereum. According to information shared by Lookonchain on September 4, the investor sold 167,855 ETH for approximately $408 million over five days. The UNI purchase took place in the weeks following that sale.

The latest post revealed the whale’s new choice and the results it has achieved in a short time. While the size of the earlier Ethereum sale drew attention, the amount allocated to the UNI position remained at $24.2 million.