A whale that had bought 10,829 ETH valued at $24.91 million three days in the past re-entered shopping for 7,448 ETH for $17.5 million at a value of $2,350, in response to knowledge printed by Lookonchain.
The re-entry occurred roughly 2% above the unique exit value, which suggests the dealer didn’t interpret the current transfer as a ceiling, however reasonably as an accumulation alternative. A pockets seeking to exit a place doesn’t repurchase inside days at a better value.
Market context is essential to understanding this commerce. Ethereum was below sustained promote stress following the KelpDAO exploit, which triggered a wave of liquidations and mass withdrawals from Aave, the decentralized lending protocol. Whole deposits on Aave fell from roughly $45.8 billion to below $30 billion, dragging ETH’s value towards $2,300 earlier than the market stabilized. That volatility opened each exit and re-entry home windows for various dealer profiles.
Supply: https://x.com/lookonchain/standing/2047168916171207105
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