Whale Swaps Nearly $18.5M in Solana for 4,532 Ethereum

Whale Swaps Nearly $18.5M in Solana for 4,532 Ethereum

An influential whale’s recent Ethereum sales yielded over $28M in profits, highlighting strategic long-term accumulation and liquidation across major digital assets.

ETH
SOL

Fact Check
The assessment is "likely true" with high confidence based on overwhelming and consistent evidence from multiple credible sources. The primary source, Lookonchain, an on-chain analytics platform, is cited as having originally detected and reported the transaction with the specific figures mentioned. This initial report is directly corroborated by several other sources. The blockchain security firm CertiK not only confirms the transaction but adds a specific detail—that 99,979 SOL was sold—lending further credibility. Additionally, news outlets from cryptocurrency exchanges Phemex, Bitget, and Weex all independently report the same core facts: a whale purchased 4,532 ETH for a total value of approximately $18.5 million. One source even provides a specific price per ETH ($4,084) that mathematically aligns with the total transaction value. There are no contradictions across any of the provided sources. The convergence of a primary on-chain data report with multiple, consistent secondary reports makes the statement highly credible.
Summary

An on-chain analyst, Ai Yi, reported that a whale’s SOL long positions have grown beyond $8 million, generating floating profits of $17 million. The whale’s total long exposure is valued at $458 million, supported by a history of profitable asset moves. Recently, the whale sold 6,000 ETH purchased six months ago at $1,582 for a $14.43M profit and 8,240 ETH in July 2024 at $2,961 for a $14.49M gain, having acquired them in late 2022 at $1,195. These transactions demonstrate sustained profitable trading across Ethereum and Solana positions.

Terms & Concepts
  • Whale: A term used to describe an individual or entity holding large amounts of cryptocurrency, capable of influencing market prices with their trades.
  • SOL (Solana): The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and governance.
  • TWAP: Time-Weighted Average Price, a trading strategy that executes orders evenly over a specified time period to reduce market impact.