Ethereum whale appears to have cut losses after 4 months of accumulation…loss estimated at about $3.3 million

Suehyeon Lee

Summary

According to OnchainLens, an Ethereum whale moved 3,246 ETH previously withdrawn from Kraken over the past four months while the position was at a loss.
The whale reportedly split the same 3,246 ETH (about $6.47 million) into three wallets and transferred it to the HitBTC exchange, a move interpreted as a potential selling signal.
The whale is currently estimated to be facing an unrealized loss of about $3.32 million, and analysts said stop-loss selling could increase short-term selling pressure and the likelihood of greater price volatility.

Forecast Trend Report by Period

An Ethereum whale address that had been accumulating over an extended period was spotted moving its holdings while in the red—suggesting it may be preparing to sell.

According to on-chain analytics platform OnchainLens on the 29th (local time), the whale had withdrawn about 3,246 ETH (about $9.79 million) from Kraken over the past four months and held the position.

However, it was confirmed that the same 3,246 ETH (about $6.47 million) was split across three wallets and then transferred to the HitBTC exchange. In general, inflows to exchanges are interpreted as a signal with a high likelihood of being intended for selling.

At current levels, the whale is estimated to be sitting on an unrealized loss of about $3.32 million. This reflects a sharp drop in price compared with the accumulation period.

Market participants say this kind of stop-loss selling could translate into short-term selling pressure. In particular, if the whale’s holdings are actually offloaded into the market, price volatility could also increase.

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