A mysterious Shiba Inu (SHIB) trader pocketed millions of dollars in the wake of the USD Coin (USDC) depegging, according to on-chain data.
Blockchain tracking firm Lookonchain says that as the USDC stablecoin lost its peg to the US dollar over the weekend, an unknown crypto trader made a profit of $4.14 million in about 48 hours.
According to Lookonchain, the mysterious trader spent 67.58 million USDC to acquire 47,670 Ethereum (ETH) on March 10th. ETH was trading at $1,418 at the time.
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About two days later, the mysterious trader converted 47,668 ETH to stablecoin Tether (USDT) worth approximately $71.72 million. Lookonchain says the unknown trader pocketed a return on investment of 6%.
“We found that 15 addresses (may belong to the same person) bought
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