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Whale Withdraws 77,000 ETH, Secures $23.47 Million in Unrealized Profit

Whale Withdraws 77,000 ETH, Secures $23.47 Million in Unrealized Profit

A major whale reentered long positions in ETH and SUI after closing them, sustaining notable unrealized losses despite strong weekly gains, highlighting volatile leveraged trading activity.

BTC
ETH
SUI

Fact Check
The assessment is primarily based on a single, high-quality primary source that directly supports the statement. The social media post from Onchain Lens, an account specializing in on-chain analysis with high authority and relevance, is reported to contain all the specific details of the claim: a 5x leveraged ETH long position held by a whale, along with the necessary data to calculate the stated unrealized profit of $1.14 million. This constitutes strong, direct evidence.While other sources are provided, they do not contradict this primary evidence. The link to Arkham, a top-tier on-chain intelligence firm, confirms the credibility of this type of data analysis but does not point to a specific report on the trade. The post from Lookonchain, another reputable on-chain analyst, confirms that similar whale activities are occurring (e.g., a 2x leveraged ETH long), which lends plausibility to the claim even though it doesn't refer to the same trade. The remaining sources are either too general (macro-level market analysis) or discuss entirely different trades, making them irrelevant to the specific statement.Since there is a direct, authoritative source supporting the claim and no conflicting evidence from the other sources, the statement is assessed as 'likely_true' with a high level of confidence.
Summary

A prominent whale closed all SUI and ETH long positions early on Dec. 10, reopening them at 8:00. Current ETH longs stand at 3,045.2592 ETH worth $10.08 million, reflecting $31,000 in unrealized losses, while SUI longs total 2,514,167.6 SUI valued at $4.11 million with $71,000 in unrealized losses. Past week profits reached $590,000, although monthly unrealized losses amount to $1.135 million. This activity adds to recent whale trading patterns, with other whales like Huang Licheng, 'CZ Counterparty,' and 'BTC OG' holding significant profitable ETH long positions.

Terms & Concepts
  • Whale: An individual or entity that holds a large amount of cryptocurrency, typically influencing market movements through their transactions.
  • Unrealized profit: The gain in value of an asset that has not yet been realized through a sale or trade, reflecting potential profit.
  • Leverage: The use of borrowed capital, such as margin, to increase the potential return of an investment.