Held Through the Highs, Sold in the Slump
A once-patient Ethereum (ETH) whale has finally exited the market—900 days after buying in—but at a much lower profit than what could have been. According to blockchain analytics platform Lookonchain, the whale purchased 10,000 ETH across two transactions in October and November 2022, spending a total of $13 million at an average entry price of $1,295.
Despite ETH surpassing $4,000 in December 2024, the whale didn’t sell at the peak. Instead, the entire position was offloaded when ETH hovered around $1,578, netting a modest profit of $2.75 million. But the missed opportunity was massive—Lookonchain estimates the unrealized gain at the peak would have been $27.6 million.
“He didn’t sell when Ether broke through $4,000. But today, he exited with a $2.75M profit,” Lookonchain reported.
After holding $ETH for over 900 days, a whale finally capitulated — selling all 10,000 $ETH($15.71M) today.
The whale originally bought 10,000 $ETH($12.95M) at an average of $1,295 on Oct 4 and Nov 14, 2022.
He didn’t sell when $ETH broke through $4,000.
But today, he exited… pic.twitter.com/KY7TZ02az4
— Lookonchain (@lookonchain) April 8, 2025
Ether Hits Multi-Month Lows Amid Macro Turmoil
As of now, Ether trades near $1,426, down 24% over the past week, pressured by broad market weakness following President Trump’s aggressive global tariff policy, which has sparked fears of a recession and macroeconomic dislocation. This volatility has redefined short-term strategies for many large holders.
The timing of the whale’s exit reflects broader sentiment shifts as ETH approaches critical support levels last seen in late 2022. The decision to sell now suggests increasing uncertainty—even among long-term holders.
World Liberty Financial Allegedly Sells ETH at a Loss
In a related move, another large Ethereum holder possibly tied to Donald Trump’s crypto initiative, World Liberty Financial (WLF), also dumped a chunk of its holdings—5,471 ETH worth $8.01 million, sold at an average price of $1,465.
Lookonchain previously tracked the wallet as holding 67,498 ETH at an average purchase price of $3,259, implying that WLF may have realized a significant loss on the recent sale. While the motive remains unclear, it coincides with broader outflows and de-risking behavior seen among institutional or politically affiliated wallets during the market downturn.
Whale Liquidations Signal Stress Across DeFi
The selling wasn’t limited to passive exits. As ETH’s price fell sharply, other large positions came under liquidation pressure.
On April 7, one unidentified whale injected 10,000 ETH (roughly $14.5 million) into a collateral position to save 220,000 ETH (worth $300 million) from being forcibly liquidated on a DeFi platform.
But not all were so lucky. On April 6, another large DeFi user reportedly lost 67,570 ETH (~$106 million) in a liquidation event on Sky, a decentralized lending platform, as cascading liquidations triggered by price drops overwhelmed the protocol’s risk parameters.
These incidents reflect systemic vulnerabilities in DeFi protocols during periods of sharp volatility, where whale behavior can amplify risk exposure for the entire ecosystem.
Final Thoughts: Patience Doesn’t Always Pay in Crypto
This week’s wave of high-profile Ethereum exits and liquidations underscores a sobering truth: even seasoned whales can mistime the market.
In traditional finance, holding through volatility often pays off. In crypto, the sheer speed and scale of market moves can turn conviction into regret. As global macro stress, U.S.-China trade tension, and liquidity challenges converge, investors—large and small—are being forced to rethink long-term conviction.
For Ethereum, the road ahead will likely depend not just on fundamentals, but on narrative resilience, network usage, and how soon macro conditions stabilize. Until then, even the biggest players aren’t immune to emotional exits—or massive missed gains.
