Investor Gained Over $4 Million From USDC Drop

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On-chain analytics firm Lookonchain recently shared details of an address of a “smart investor” who made $4.14 million trading Ethereum amid the USDC crash.

The savvy investor didn’t just profit from the USDC crash

lookonchain shared how smart the user is, highlighting how the user dumped their ETH prior to the LUNA crash and also bought Shiba Inu early and sold it during its peak in May and October 2021. On-chain analysts also mentioned that the address currently $71 million dollars remains.

The on-chain analyst also identified that the same person is likely the owner of the 15 addresses that bought 47,670 ETH for around 67 million USDC at $1,418 on March 10. This is because on-chain data reveals that these addresses received a large number of SHIBs from the same address on March 10. On April 21, 2021, the user then sold 47,688 ETH at $1,505 for around 71 million USDT. The user pocketed $4.14 million in two days with an ROI of 6%.

Lookonchain also wrote about intelligent SHIB exchanges by the user. According to the chain’s data, the user was an early investor in Shiba Inu and bought 5.5 billion at 180 ETH ($400k) before its price increase in May 2021. Smart management sold the entire SHIB for 35k ETH in May and October 2021, when the SHIB price hit its all-time high.

Before the moon collapse, the user converted ETH to USDC. Most of the user funds are in USDT and spread across 15 addresses at press time. The USDC is up 3.47% in the last 24 hours and is trading at $0.9892 after its precipitous drop.

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