In today’s Ethereum update, a major Ethereum whale is back in the market after securing over $1 million in profit from a previous trade. According to on-chain data, the whale recently purchased another 5,001 ETH worth about $10.6 million. The move came just weeks after the investor executed a successful buy-low, sell-high strategy.
Whale Executes Perfect Trading Strategy
Market intelligence platform Lookonchain has reported the latest transaction of an Ethereum whale holding 131,000 ETH who just purchased 5,001 ETH worth $10.6 million at an average price of $2,119. What makes the move even more fascinating is that Lookonchain revealed the whale has repeatedly shown a pattern of buying low and selling at higher prices.
Interestingly, the analytics platform previously reported that the same whale bought 5,039 ETH worth nearly $10 million last month at an average entry price of $1,985. The investor later sold 5,000 ETH for about $11.01 million after Ethereum surged in value. The sale averaged $2,200 per coin.
As a result, the whale secured an estimated profit of around $1.09 million while executing what many traders described as a perfect buy-low, sell-high strategy. Thus, the whale’s latest re-entry into the Ethereum market has sparked mixed reactions across the crypto community.
More Whales Continue Ethereum Accumulation
Meanwhile, aside from this profitable whale, several other major investors are also doubling down on Ethereum accumulation. Interestingly, Lookonchain recently reported a Matrixport-linked whale that has continued adding to its Ethereum long position whenever the market dips.
According to the analytics platform, the whale has now amassed around 120,000 ETH valued at roughly $254 million. However, despite the aggressive accumulation strategy, the investor is reportedly sitting on an unrealized loss of more than $17.5 million.
The continued buying activity suggests some large holders still expect Ethereum prices to recover in the long term despite ongoing volatility. Meanwhile, Lookonchain also revealed that the Verus-Ethereum bridge was exploited in another crypto-related hack, resulting in roughly $11.5 million in stolen funds. Interestingly, blockchain data showed that the hacker swapped all the stolen funds into 5,402 ETH through Uniswap shortly after the exploit.
Ethereum Slides Below Key Support Zone
Meanwhile, the recent market dip, triggered by fears of a possible re-escalation in the U.S.-Iran conflict, has pushed Ethereum below the critical $2,150 support level. According to market analyst Ted Pillows, the next major support zone for ETH now lies between $2,050 and $2,070. The analyst explained that holding this region could potentially trigger a bullish rebound for Ethereum.
Interestingly, Pillows also revealed that Ethereum has already entered the oversold region in the four-hour timeframe. This technical signal has further strengthened traders’ expectations of a possible short-term recovery bounce. According to asset tracker CoinMarketCap, Ethereum is trading around $2,113 after falling roughly 3.6% over the past 24 hours.
Josiah Oluwadare
The CoinRemark Team
