An #Ethereum whale known by wallet address 0xe429 has closed a major position, locking in $7.5 million in profits after nine months of holding.
The trader originally acquired 6,918 $ETH in a series of transactions from Binance Hot Wallets, totaling $25 million at an average entry price of $3,614. On-chain data shows the holdings went through significant drawdowns, at one point reflecting $15 million in unrealized losses during market dips.
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Recent price action, fueled by Ethereum’s rally to a yearly high of $4,703, triggered the whale’s exit. Over the past two hours, he deposited the entire stack to Binance in multiple transfers, including a 2,500 $ETH block worth $11.78 million and another 1,917 ETH worth $9.03 million.
The sell-off coincided with Ethereum’s sharp surge this week, with the token climbing more than 73% year-to-date and approaching the $5K psychological barrier. Trading volume spiked to $62.98 billion in the last 24 hours, signaling heightened market activity.
This exit underscores how patient accumulation during consolidation phases can pay off for high-conviction holders — though it also highlights the volatility and deep drawdowns endured along the way. With $ETH now at multi-year highs, eyes remain on whether fresh buyers can sustain momentum or if profit-taking will dominate the next move.
