Laughing out loud, is the giant whale also a retail investor chasing up and selling down?

According to monitoring data from Lookonchain, whale address 0x3c9E seems to be caught in a strange loop with ETH trades, always panicking and selling off when prices drop, and then hurriedly buying back at higher prices. This behavior is truly puzzling.

Let's rewind to the period from July 29 to August 3, when the market situation was not great, and ETH prices were in a downward channel. 0x3c9E appeared to be shrouded in panic, selling a total of 38,582 ETH at an average price of $3,548, worth about $136.9 million.

But who would have thought that shortly after, the market trend abruptly changed. From August 8 to August 15, ETH prices rebounded strongly, and at this point, 0x3c9E couldn't sit still, buying back 16,800 ETH at an average price of $4,424, spending about $74.3 million. In this buy-sell process, the price difference was lost for nothing; one wonders how the giant whale feels about it.

Just when it was thought that it would learn a lesson, unexpectedly, from August 16 to August 20, when ETH prices fluctuated slightly downward, 0x3c9E repeated its old trick, panicking and selling again, selling 10,900 ETH at an average price of $4,369, worth about $47.6 million. However, the market seemed to go against its wishes, and ETH prices did not continue to drop as it had hoped.

In the last 20 hours, ETH prices have shown an upward trend again, and 0x3c9E hurriedly acted, buying back 7,500 ETH at an average price of $4,747, about $35.6 million.

0x3c9E's frequent and unreasonable actions have sparked a lot of speculation in the market. Some say that perhaps the whale's judgment of market trends is seriously flawed, making decisions at the wrong times each time; others speculate whether there are unknown factors behind this, such as cash flow issues, or significant misinterpretations of market news?

Other investors are also closely monitoring 0x3c9E's subsequent actions, curious whether it will continue to perform this 'buy high sell low' act 😂#以太坊生态山寨币普涨 $ETH