The richest wallet on the Ethereum (ETH) network increased in value by almost a billion dollars over the past 30 days on the back of strong ETH rallies.
According to blockchain tracking service Whalestats, the whale known as Naruto went from a balance of just over $1.98 billion on July 15th to more than $2.96 billion at time of writing, a nearly 50% increase.
The deep-pocketed investor’s success is mostly due to simply holding ETH during the leading altcoin’s recent rally, as Etherscan reveals that there have been no significant deposits into the wallet during the past seven months. The whale’s other crypto holdings amount to less than $670 total.
Over the same timeframe, Ethereum rallied from $1,287 to its current price of $1,901, an almost 50% increase and in line with the ETH whale’s gains.
Naruto currently has 1,490,000 ETH worth almost $2.85 billion.
The leading smart contract platform briefly surpassed $2,000 twice on Sunday, a level not seen since mid-May of this year.
Whalestats also reports that overall, most of the 100 wealthiest wallets are behaving conservatively.
Looking at the top 10 most purchased tokens over the past 24 hours, Wrapped Bitcoin (WBTC) and Ethereum lead the way, followed by four stablecoins with average buy-in amounts of:
- $183,666 spent on 183,709 Tether (USDT).
- $153,920 to acquire 153,998 US Dollar Coin (USDC).
- $49,807 to buy 50,000 of Aave USDC (aUSDC).
- $4,019 to net 4,104 Frax (FRAX).
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/IvaFoto