Another address on-chain has popped up that’s worth taking a closer look at—Wang Chun, Yu Chi’s co-founder.
Eight days ago, he sold 7,740.2 $ETH in one go at an average price of $2,390, pocketing around $18.5 million. I didn’t think much of it at the time; wallets holding that kind of money are active every day.
But over the past two days, he bought back in. 10,992 $ETH at an average price of $1,989, putting in around $21.87 million.
Same coin, same hand. He only dumped 7,740 on the way out, then bought back nearly 3,000 more. And the average price he bought back at was a full $400 below where he sold—he pocketed a real profit from that price gap between selling and buying back in.
I’m not sure whether he just nailed the timing, or whether he never intended to leave for good in the first place. Either way, looking at the numbers, I really haven’t seen many cases of someone buying their own dip like this.
Eight days ago, he sold 7,740.2 $ETH in one go at an average price of $2,390, pocketing around $18.5 million. I didn’t think much of it at the time; wallets holding that kind of money are active every day.
But over the past two days, he bought back in. 10,992 $ETH at an average price of $1,989, putting in around $21.87 million.
Same coin, same hand. He only dumped 7,740 on the way out, then bought back nearly 3,000 more. And the average price he bought back at was a full $400 below where he sold—he pocketed a real profit from that price gap between selling and buying back in.
I’m not sure whether he just nailed the timing, or whether he never intended to leave for good in the first place. Either way, looking at the numbers, I really haven’t seen many cases of someone buying their own dip like this.