A major Ethereum whale has completed a massive sell-off, closing out a position of 52,001 ETH and reportedly walking away with around $24.5 million in profit. According to blockchain analytics platform Lookonchain, the whale originally accumulated the ETH for approximately $112.4 million, paying an average of about $2,162 per ETH. The entire position was eventually sold at an average price near $2,632.
The latest transaction involved the remaining 9,996 ETH, worth roughly $25 million, from wallet 0x8c58. It follows the whale’s much larger disposal on September 24, when approximately 42,005 ETH, valued at nearly $112 million at the time, was sold during a broader crypto-market downturn. With the final batch now gone, the whale has effectively exited the entire ETH position and locked in its gains.
Interestingly, the broader whale activity around Ethereum is telling a very different story. On October 12, another large investor reportedly rotated substantial capital from Bitcoin into ETH. The whale sold 410.14 BTC, worth about $34.2 million, before purchasing approximately 14,341 ETH. A second transaction saw another 229 BTC sold for roughly $19.1 million, followed by the purchase of around 7,470 ETH. This suggests that while some large holders are taking profits, others are actively increasing their Ethereum exposure.
The contrasting moves highlight an important trend for ETH investors: whale activity isn’t moving in one direction. One major holder is exiting after securing significant gains, while another appears to be rotating capital from BTC into Ethereum. With ETH trading around $2,507, the market will be watching whether these large transactions develop into a broader accumulation or distribution trend. For now, the data points to a market where institutional-sized investors are actively repositioning rather than simply abandoning Ethereum.
Key Pointers
- 🐋 52,001 ETH: Total position reportedly sold
- 💰 $24.5M: Estimated realized profit
- 📊 $2,162: Approx. average acquisition price
- 💵 $2,632: Approx. average selling price
- 🔻 9,996 ETH: Final batch sold
- 🔄 BTC → ETH: Another whale recently rotated significant capital into Ethereum
- ⚖️ Mixed signals: Some whales are taking profits while others are accumulating ETH
- 👀 What to watch: Large-wallet flows, ETH exchange deposits/withdrawals and BTC-to-ETH rotations
