Whale Adjusts ETH Positioning Strategy
Chain analysis reveals a major ETH holder has recently restructured their portfolio positioning. This seasoned investor, known for long-term accumulation since 2017, has made significant adjustments to their holdings.
Over the past 10 hours, the whale sold 23,924 ETH at an average price of $1,888.71, realizing $45.18 million in proceeds.
- Subsequently deposited $15.998 million USDC as margin on a derivatives platform
- Placed limit buy orders for BTC, ETH, and HYPE contracts
- Currently maintains $56.18 million in open long positions
- Current unrealized losses amount to $6.462 million
Historical Accumulation Pattern
Two years ago, this entity received 19,000 ETH originally accumulated during 2017 at a cost basis of just $357 per ETH.
Additionally, two weeks ago the wallet received 7,038 ETH acquired between December 2023 and April 2024 at an average price of $2,709.43 per ETH.