Two wallets inked staggering 30,830x gains on a memecoin built on the Ethereum (ETH) layer-2 scaling solution Base, according to the crypto tracker Lookonchain.
Lookonchain notes that two wallets whitelisted by the deployer for the meme asset Brett (BRETT) spent 0.034 ETH worth $102 to buy a combined 172.56 million BRETT in February.
Those wallets subsequently sold 122.74 million BRETT for 890.65 ETH worth $3.14 million on-chain via multiple wallets, printing staggering gains to the tune of 30,830x.
Whitelisted wallets are approved participants for a specific crypto event like an initial coin offering (ICO), according to Coinbase. The pseudonymous crypto analyst known as Shady says the Brett deployer whitelisted 139 addresses.
Brett bills itself as the “mascot” of the Base chain. The meme asset is trading at $0.0397 at time of writing and is down more than 14% in the past 24 hours.
Lookonchain also notes that a long-dormant Ethereum wallet abruptly transferred 2,000 ETH worth $6.65 million over the weekend.
The wallet received the trove of ETH from the Ethereum Foundation on Sept 22nd, 2015, when the price of the second-largest crypto asset by market was only $0.90, meaning the value of the holdings grew by approximately 370,000% over nine years.
ETH is trading at $3,205 at time of writing and is down more than 2% in the past 24 hours.
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Generated Image: Midjourney
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