Ethereum Whale Reenters at Lower Prices, Reaccumulates 57,000 ETH

A large whale known as an early Ethereum investor has started buying again after a recent wave of heavy selling.

Onchain Lens said June 7 that the whale had previously sold 60,000 ETH and 9,442 wsETH at an average price of $2,106, raising about $146.2 million.

After Ethereum's price fell sharply, the investor moved back in. So far, the whale has spent $90.41 million to buy 57,339 ETH at an average price of $1,577 and is continuing to accumulate, according to Onchain Lens.

The whale also purchased 361 WBTC at an average price of $63,120, spending about $22.78 million.

The market sees the investor as having locked in sizable profits by selling Ethereum near its peak and reentering during the price correction. The gap between the average selling price and the repurchase price is about 25%, fueling interest in the whale's potential returns.