Highly successful Ethereum whale has once again increased its holdings, purchasing approximately 3,100 ETH for a total price of around $9.98 million. Despite currently experiencing unrealized losses, investors are paying attention to whether this contra-trend buying behavior can once again achieve a turnaround.
(Background: Bitcoin breaks through $95,000 in the early morning, Ethereum surpasses 3,300, attention on US CPI inflation data on Wednesday)
(Additional context: Vitalik Buterin implies Ethereum Foundation is “very important”: technology funds should encourage open-source development and restrain closed and exploitative mentalities)
Recently, influenced by factors such as the potential interest rate cuts by the US Federal Reserve, potential tariff policies after Trump’s inauguration, and persisting inflation, both the US stock market and the cryptocurrency market have been continuously declining. At the time of writing, Bitcoin has fallen below $92,000, retesting the previous low of $91,200, while Ethereum has experienced an even greater decline and is planning to retest the December 2024 low of $3,101.
Whale enters the market again, adding over 3,100 ETH to its holdings
However, during this downturn, the consistently successful Ethereum whale has once again increased its holdings of ETH, sparking discussions in the market about whether it can profit once again from this move.
According to analysis by Ai Yi, this Ethereum whale has made multiple purchases in the past few days, and the current total holdings have reached 10,391.76 ETH, with an average purchase cost of $3,269.38. Although it is currently facing losses of over a million dollars, Ethereum has indeed reached a possible low point for a rebound.
This whale has been known for its short-term trading operations and started its first wave of operations in April 2023. It has accumulated 24 waves of operations, with losses only occurring in four of them last year. It has achieved an impressive success rate of 83.3% and accumulated profits of a staggering $10,842,000.
Update: An hour and a half ago, the whale once again added 3,100 ETH to its holdings at an average price of $3,220.35 (approximately $9.98 million). With this, its current wave position has officially exceeded 10,000 ETH, holding a total of 10,391.76 ETH at an average price of $3,269.38, with a floating loss of nearly $795,000.
The recent waves have been quite heart-wrenching. Could it be another journey of bitterness before sweetness? pic.twitter.com/uTC0OtQ1jb
– Ai Yi (@ai_9684xtpa) January 13, 2025
From profiting from short positions to adding to long positions: Will a reversal come?
The whale’s most recent closing operation was to end its short positions on January 9, earning $2.79 million. Starting on January 2, it sold short 21,600 ETH at an average price of $3,458. Although it experienced temporary unrealized losses of $5 million, it later closed the positions in batches for profits.
However, whether this whale’s operation signifies a market reversal remains to be observed in subsequent trends. If the whale’s insight remains accurate this time, it may indicate that a market rebound is imminent.
