Whale Sells Entire 9,485 ETH Holding at a Loss
According to newly released blockchain data from lookonchain, a major Ethereum holder (often referred to as a 'whale') purchased 9,485 ETH five months ago at an average price of $4,721, spending a total of $44.78 million.
However, the same address recently sold its entire position of 9,485 ETH at an average price of $2,162, netting just $20.5 million and realizing a massive loss of $24.27 million, representing a 54% decrease from the original investment.
What This Whale's Move Could Signal
This drastic move has drawn widespread market attention. Whale transactions often indicate strategic decisions based on market outlook. Selling at such a significant loss suggests the investor may have lost confidence in Ethereum's near-term prospects.
The move also serves as a cautionary tale for retail investors:
- Buying at high prices can result in major losses
- Long-term holdings should include stop-loss strategies
- Emotional decisions can be costly in volatile markets
Ethereum's price remains in a consolidation phase, and investors should prepare for potential volatility in the coming weeks.