Big trades tell long stories. You just have to read past the headlines.👌 Remember that ETH whale everyone tagged as “ultra-bullish” around the $2,545 zone? Yeah… turns out the unwind has been happening quietly, piece by piece.
Over the last couple of weeks, this wallet has been steadily letting go. In just the past 24 hours, another 10,000 $ETH hit the market, roughly $29 million worth -- locking in close to $3.9M in profit on that slice alone. Zoom out a bit further, and since December 16, the total offloaded stack adds up to about 40,600 ETH, sold around an average of $2,923, for roughly $118M in value. Net gain from this run? Around $15.3M. Solid. No question.
What’s left now is a much smaller bag, just over 10,000 ETH still sitting on-chain. The bulk of the position has already made its way out.
But here’s the part that gets glossed over sometimes. This wasn’t a clean, straight-line win. Back in April, during that brutal drop, the same wallet panic-cut a massive position and ate a loss of nearly $40 million. So even with this strong eight-month recovery, the scoreboard isn’t fully reset yet. Not quite.
It’s a good reminder, honestly. Even the whales bleed. Timing can be brilliant for months… and still not erase one bad stretch.
the address is here for reference:
0x2802035118f591D3CFA93bdEA1699319466B5c12
