A major Ethereum whale, identified as a significant over-the-counter (OTC) investor, has completed a full exit from their position, selling a total of 52,001 ETH and securing a $24.5 million profit, according to data compiled by blockchain analytics firm Lookonchain.
Whale’s liquidation strategy and profit
The investor initiated their divestment in September, liquidating 42,005 ETH—then valued at approximately $111.89 million—amid broader weakness in cryptocurrency markets. They retained a balance of 9,996 ETH after that sale, which were held until a final transaction reported this week.
This latest sale involved moving the remaining 9,996 ETH, worth around $25 million, from the wallet address 0x8c58. With this final move, the whale has completely closed out the original 52,001 ETH position.
Lookonchain calculated the whale’s average acquisition price at $2,162 per ETH, resulting in a total initial outlay of roughly $112.4 million. The total portfolio was sold at an average price of $2,632 per coin, generating a realized profit of $24.48 million.
By unwinding the entire 52,001 ETH stake at higher average prices than acquired, the whale achieved a profit margin of nearly $24.5 million.
Mini dictionary: Over-the-counter (OTC), A method of trading assets directly between parties rather than through a centralized exchange. OTC desks are often used for large trades to minimize price slippage and market impact.
| Transaction | ETH Amount | USD Value at Sale |
|---|---|---|
| First major sale (Sep 24) | 42,005 ETH | $111.89 million |
| Final sale | 9,996 ETH | $25 million |
| Total position | 52,001 ETH | ~$136.89 million |
Other whale activity in the market
Whale activity has diverged in recent weeks, with some investors reducing their Ethereum exposure while others are increasing holdings. On October 12, Lookonchain identified a different large investor actively shifting capital from Bitcoin to Ethereum in rapid succession.
The unidentified whale first sold 410.14 BTC, valued at $34.16 million, and subsequently purchased 14,341 ETH for $36.14 million on various decentralized exchanges. Later, the same investor sold an additional 229 BTC, worth $19.1 million, and acquired 7,469.8 more ETH.
Several whales appear to be repositioning aggressively, with some rotating assets from Bitcoin into Ethereum while others realize profits on existing ETH holdings.
| Action | Asset Sold | Asset Purchased | Value |
|---|---|---|---|
| First rotation | 410.14 BTC | 14,341 ETH | $36.14 million (ETH) |
| Second rotation | 229 BTC | 7,469.8 ETH | Unspecified |
Ethereum market performance
Despite significant whale moves within the market, Ethereum has maintained relative price stability. The latest data from CoinGecko shows that ETH is currently trading at $2,507.47, marking a 0.7% increase over the past 24 hours.
These substantial transactions underline the continued influence of large investors in cryptocurrency markets, particularly in shaping liquidity and short-term price movements.
