Whale Trader Swaps Losing "Neiro Ethereum" for Winning "First Neiro on Ethereum"
An early whale trader who previously made $145 million from $SHIB between February 2021 and June 2022 has made a significant move. The trader has swapped their losing "Neiro Ethereum" for the winning "First Neiro on Ethereum" and has realized a whopping $2.67 million profit in the process.
On-Chain Insights by Spot On Chain
According to the on-chain insights platform Spot On Chain, the whale trader sold all 17.5 million NEIROETH for $1.22 million, resulting in a $1.49 million loss (-55%) after holding for a month. However, the trader then bought 841.6 million NEIRO for $1.45 million in the last 24 hours, bringing their total NEIRO holdings to 3.85 billion, with a $2.67 million unrealized profit (+67%).
The entity that once made $145M from $SHIB is swapping their losing “Neiro Ethereum” for the winning “First Neiro on Ethereum”.
5 hours ago, this entity sold all 17.5M Hash&ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#NEIROETH for $1.22M, taking a $1.49M loss (-55%) after a month of holding.
Meanwhile, they further bought… https://t.co/fnlVpC35NO pic.twitter.com/vUhcgPxkqN
— Spot On Chain (@spotonchain) October 8, 2024
The platform also revealed that the trader had a $1.13 million unrealized profit (+32.6%) from holding 3.11 million FET ($4.61 million) in addition to NEIRO. However, the trader faced an estimated 40% loss of $10 million from the second $SHIB trade, with 477.5 billion $SHIB still remaining, worth $8.41 million.
Previous Trading Activity
On September 18, the trader initially swapped 1,003 ETH (valued at $2.31 million) for 2.86 billion NEIRO, resulting in a $1.07 million unrealized profit within just five days. In a similar move in August, the trader exchanged 255.62 billion $SHIB ($3.5 million) for 3.114 million FET. Spot On Chain noted in its August post, "Notably, this whale made a $145 million (x52) profit from the first $SHIB trading between February 2021 and June 2022. However, the recent $SHIB trade resulted in an unrealized loss of $11.51 million (-45.9%) since June 2024."
If you want to know more about the rise in NEIRO's value, check out NEIRO Surges by 52%; Hits a New All-Time High.
