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News/CRV Dip: Insights from a Smart Wallet

CRV Dip: Insights from a Smart Wallet

Van Thanh Le

Jun 13 2024

last month3 minutes read
Smart money buying CRV

Amidst CRV's significant dip, the token has seen a remarkable influx of smart DEX traders, smart money, and whales. Let’s dive into the details of a noteworthy wallet identified as stonefff.eth (0xc808), the largest buyer of CRV among these groups in the past 24 hours as per Nansen (excluding the MEV Bot address).

chart (6).webp

Strategic Moves of stonefff.eth

Screenshot_4.png
Source: Mest.io

Starting from 3 am UTC on June 13, this wallet made a series of calculated purchases:

  1. Initial Purchase: Acquired 436.28K CRV on PancakeSwap at $0.36, then sent to Binance at $0.252.
  2. Second Round: Withdrew 266.52K USDT from Binance and bought 1.31M CRV with $332.09K at an average price of $0.2529, then sent to Binance at $0.2492.
  3. Third Round: Purchased 3.11M CRV with $720.65K at $0.2311, sent to Binance at $0.2115.
  4. Fourth Round: Bought 89.07K CRV with $19.59K at $0.22, sent to Binance at $0.2049.
  5. Fifth Round: Withdrew 1M USDT from Binance, bought 1.06M CRV with $227.9K on PancakeSwap and Uniswap at $0.2135, sent to Binance at $0.2143.
  6. Final Round: Acquired 3.47M CRV with $729.52K on Uniswap at $0.2143, sent to Binance at $0.2405.

In just 9 minutes, this wallet bought a total of 9,475,350 CRV at an average cost of $0.2318, totaling $2.196M. With CRV’s price rebounding to $0.2922, this wallet’s potential profit stands at approximately $572K (up 26%).

The Wallet's Winning Strategy

Screenshot_5.png
Source: Cielo

This wallet has a 47.31% win rate across 93 tokens, with notable success in both DeFi and memecoin trades. Key DeFi gains include wTAO (+25.26%), wPOKT (+81.64%), STG (+88.48%), VOID (+197.75%), and AXL (+99.45%). Significant memecoin profits include SKOP (+154.39%), PEIPEI (+321.72%), and PEPEW (+82.89%).

Despite the impressive potential gains from the CRV trades, we haven't seen significant fund withdrawals yet, suggesting that this wallet might be holding out for further price recovery. This strategy, combined with a history of strategic trading, showcases the adept maneuvers of this smart wallet in navigating the volatile crypto market.

This article has been refined and enhanced by ChatGPT.

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