How a ‘Good Cash’ Earned $7 Million By means of Strategic ETH Trades

• Lookonchain tweeted a notable ‘Good Cash’ to their followers.
• The ‘Good Cash’ profited $7 million on March 21, 2023, following well-timed trades.
• After the income, the ‘Good Cash’ at the moment holds 20,891 ETH value $36.7 million.

On-chain analyst Lookonchain shared particulars of transactions from a ‘Good Cash’ who made $7 million in income by buying and selling Ethereum (ETH). The Good Cash made well-timed trades that resulted in spectacular positive aspects. At the moment, they maintain 20,891 ETH value $36.7 million. Lookonchain refers to comparable smart merchants as ‘Good Cash.’

Lookonchain shared a two-part Twitter thread explaining the ‘Good Cash’’s transactions alongside screenshots of the trades.

On July 5, 2022, the ‘Good Cash’ withdrew 10,579 ETH from the then-functional FTX platform at a value of $1,120. Following that, they used 44 million USDC to buy 27,957 ETH at a reduced value of $1,573 throughout a USDC de-pegging occasion. 

Then on March 21, 2023, six hours earlier than the tweet, the ‘Good Cash’ offered 4,000 ETH on Uniswap for a worthwhile value of $1,753 per ETH, yielding $7 million. Notably, in keeping with Lookonchain’s observations, the worth of ETH might have dropped by 2% due to the ‘Good Cash’’s sell-off.

Afterward, the ‘Good Cash’ transferred 16,000 ETH value $28 million to the Binance platform. At the moment, they maintain 20,891 ETH value $36.7M and have a mean holding value of $1,464.

Lookonchain highlighted the trades to encourage its followers to commerce strategically. The ‘Good Cash’ recognized the chance offered by the USDC de-pegging occasion for his or her benefit, shopping for ETH at a reduced value. Moreover, they timed their sale of 4,000 ETH on Uniswap to coincide with a peak in ETH’s value, maximizing their income.

The On-chain analyst advises their followers to maintain a watch out for the ‘Good Cash’’s subsequent sell-off.