Share this article
Profit-Making Crypto Address Makes $16M Investment in BTC
The address has made $30 million in trading profits in the past 12 months, according to Lookonchain.
Updated Jul 19, 2024, 5:29 p.m. Published Jul 18, 2024, 6:20 a.m.
- A profitable crypto address has made a fresh investment in BTC.
- The address has made $30 million in trading profits in the past 12 months.
Traders who are skeptical about bitcoin's recent price rebound may find comfort in the fact that a crypto address, recognized for substantial trading profits, has made a fresh BTC investment this week.
The addresses labeled "3QYQ8YthYTaAFJmzUqiis7iRSWG7e5buBN" amassed 245 BTC worth nearly $16 million on Tuesday, taking the tally to 248 BTC, according to data source Arkham Intelligence and blockchain sleuth Lookonchain.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The transaction is noteworthy given the address' history of making profitable bets. In the past 12 months, it has made $30 million by bargain-hunting BTC at low prices and selling closer to trend tops.
During the five months to mid-December 2023, the address bought 718 BTC at an average price of $29,385 and liquidated at $41,953, pocketing a profit of $9 million, Lookonchain detailed on X. The address rode the uptrend from February to June, pocketing $21.2 million in profit.
Its latest investment suggests confidence in bitcoin's price prospects. The leading cryptocurrency by market value has recovered from $53,500 on July 5 to the ongoing market rate of $64,500, supposedly on the back of favorable political developments in the U.S. and haven demand.
"The assassination attempt on [Republican candidate Donald Trump] on July 13th had a dual impact on bitcoin prices. As a pro-crypto candidate, the increased odds of a Trump victory spurred a positive market reaction. Concurrently, the event heightened global instability, causing bitcoin, often seen as a risk-off asset, to surge by over 10%, with prices climbing above $63k," Pedro Lapenta, head of research at Hashdex, said in an email.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin shorts scramble for the exits as BTC climbs
Bitcoin surged from an intraday low near $86,200 to reclaim $90,000, driven by aggressive spot buying and a wave of short liquidations.
What to know:
- Over $110 million in bitcoin short positions were liquidated in the past hour, according to Coinglass alongside a muted rise in open interest
- The action points to spot-driven demand rather than leveraged bets driving BTC's surge to $90,000.
- Bitcoin’s cumulative volume delta jumped 1,100% during the rally, signaling aggressive buying pressure not seen since early December.
- Global Macro Investor’s Julien Bittel says an "oversold" RSI reading supports a prolonged bull market, arguing the traditional four-year cycle has broken down as bitcoin dominance climbs toward 60%.
Top Stories
