Whale withdrew 1,700 ETH from Binance after 6 months.
Current ETH holdings total 5,000 ETH ($9M).
Whale is sitting on an unrealized $3.6M loss.
Whale Resurfaces With a Fresh $ETH Move
After a quiet 6-month period, a notable Ethereum whale is back in action—resuming accumulation with a significant withdrawal. Just three hours ago, this wallet pulled 1,700 ETH (worth about $3.1 million) from Binance, marking a renewed interest in Ethereum despite recent market turbulence.
This move brings the whale’s total ETH holdings to 5,000 ETH, with a current market value of approximately $9 million. Interestingly, blockchain data reveals that the whale is currently sitting on an unrealized loss of $3.6 million. This suggests that the average buy-in price was significantly higher than ETH’s current valuation.
Confidence Despite Losses
What stands out most is the whale’s confidence to continue accumulating ETH despite being deep in the red. A $3.6 million unrealized loss would typically deter retail investors—but large holders often play the long game.
Such moves are frequently interpreted as a sign of bullish sentiment among major players. Whether the whale expects a rebound or is simply dollar-cost averaging, this kind of activity often precedes or aligns with a shift in market direction.
Ethereum has seen price consolidation recently, but long-term holders continue to bet on its future. With upcoming upgrades and a growing DeFi ecosystem, whales accumulating at current levels might be positioning for long-term gains.
After a 6-month break, a whale has resumed accumulating $ETH, withdrawing 1,700 $ETH($3.1M) from #Binance 3 hours ago.
This whale now holds 5,000 $ETH($9M), with an unrealized loss of $3.6M.https://t.co/lu8FQ4g3pi pic.twitter.com/DivSFiX6KE
— Lookonchain (@lookonchain) May 6, 2025
What It Means for the Market
Whale movements are always worth watching. Large-scale withdrawals from centralized exchanges like Binance are typically seen as a bullish indicator, suggesting the intention to hold rather than sell.
This whale’s recent activity adds to a broader trend of accumulation among long-term holders. Whether it leads to a short-term price move or not, it does reflect underlying confidence in Ethereum’s value proposition.
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