An Ethereum whale carried out a significant transaction, dumping 2,000 ETH worth $4.87 million. The transaction was first detected by on-chain analyst Ai Auntie. It demonstrated that the whale only had the assets in question for 47 days before dumping most of their assets at a loss. The sale led to a roughly $69,000 loss alongside a realized loss of about $324,000 for the Ethereum whale. The whale’s trading style and resulting thousands-of-percent losses reflect the market-moving volatility and risk management challenges common to massive crypto portfolios.
Yet, earlier this week, the Ethereum whale had made the decision to liquidate a significant chunk of its holdings. This move came after 4,026.47 ETH has been added since June 10th. According to the latest available data, the whale’s average purchase price is $2,598 per ETH. As of this sale, the whale still has 2,026 ETH in their wallet. To make matters worse, those holdings are now underwater by roughly $178,000, further exacerbating the financial impact of the transaction.
The sale of these 2,000 ETH netted $4.87 million in proceeds. Curiously enough, the whale’s sale coincided with the start of a new bullish market trend. The whale’s reported transaction was therefore about four hours after it sold the ETH to that counterparty.
This huge transfer is a big reminder of the risks involved when holding crypto, especially for whales. The Ethereum whale’s journey serves as a reminder that navigating the crypto market requires intelligent decision-making, keen understanding of risk, and a willingness to adapt with changing tides.
