An ethereum whale who has held 9,389 ETH for roughly four years is now sitting on a $23.8 million unrealized loss, Lookonchain reported. Furthermore, just hours earlier, the firm flagged two separate wallets pulling more than 20,000 ETH ($35 million) off exchanges.
Key Takeaways
Whale 0xFe99’s 9,389 ETH, received at $4,311, is worth $16.69M today, a 59% paper loss.New wallet 0xf31d withdrew 8,239 ETH ($14.5M) as whale 0x363A bought 11,843 ETH ($20.8M) in 3 hours. ETH is trading near $1,780, down roughly 32% this year.Moreover, a reversal may hinge on whether exchange outflows persist and whether ether can reclaim its $2,000 threshold, especially since a sustained failure to do so would keep the pressure on the remaining long-term holders still deep underwater. Interesting times ahead, to say the least!
