Key conclusions
- The 9,389 ETH Whale 0xFe99 received at $4,311 is worth $16.69 million today, a 59% paper loss.
- New wallet 0xf31d withdrew 8,239 ETH ($14.5 million) while whale 0x363A bought 11,843 ETH ($20.8 million) in 3 hours.
- ETH is trading around $1,780, down about 32% this year.
A four-year round trip to Deep Red
Wallet tagged 0xFe99 got 9389 ETH was worth $40.47 million about four years ago, when Ether changed hands at $4,311 (near the asset’s record high at the end of 2021). Since then it has not been sold. While Ether was recently worth $1,777, the stash is now worth just $16.69 million.
“This a whale is conducted ETH over 4 years, suffering losses of 23.8M (-59%),” Lookonchain wrote, suggesting that the holder may have finally capitulated after riding the position through the entire market cycle.
Investors who bought at the 2021 peak have now watched the asset halve, recover in 2024 and 2025, then give up most of those gains this year. As a consequence, many OGs shrunk, with one a whale offload $136 million Art ETH and bets placed earlier this month.
Buyers step in when the price falls
While all of the above sales were happening, newly created wallet 0xf31d withdrew 8239 ETH worth $14.5 million from multiple exchanges within 12 hours. At the same time, another a whale0x363A, 11,843 accumulated ETH to the tune of $20.8 million in just three hours.
Combined, the two wallets absorbed approximately 20,082 ETHabout 35.3 million dollars in current prices. While the big withdrawals from centralized exchanges can be considered as cattle signals, they do not automatically guarantee any bottom.
how are things going ETH changes hands around $1,780, roughly down 32% since the beginning of the year even as bitcoin held a relative position. The asset recently lost the psychologically important $2,000 level, which the bulls have defended for weeks, and this marker alone could further lower the token in the near to medium term.
Moreover, a reversal may depend on whether the exchange’s outflows persist and ether can regain its $2,000 threshold, especially since a prolonged failure to do so will keep the pressure on the remaining long-term holders still deep underwater. Interesting times ahead, to say the least!