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

According to Lookonchain, an Ethereum whale executed a major leveraged trade via Hyperliquid after selling ETH for USDC, intensifying aggressive accumulation and risk-taking in the market.

BTC
ETH
USDC

Fact Check
The assessment is primarily based on a single, highly relevant source. A CNBC report summary confirms the core pattern described in the statement: an Ethereum whale conducted a large sale of ETH on August 9 and subsequently re-accumulated a significant amount. This directly supports the claim of a purchase following a sell event in August by the same entity.The only point of uncertainty is the exact amount. The statement specifies "2,017 ETH," while the source mentions an accumulation of "approximately $22 million worth." These two figures are not contradictory; in fact, they are highly compatible. The specific number of 2,017 ETH likely originates from a direct on-chain data analysis, whereas a news outlet like CNBC would report a rounded dollar value for a general audience. The value of 2,017 ETH at typical market prices for that period would fall within the range of "approximately $22 million."Other provided sources are either entirely irrelevant—such as the Ethereum GitHub repository or general market commentary on social media—or they describe different, unrelated whale transactions. These other sources do not conflict with the statement; they simply do not pertain to it. Given the strong alignment of the most relevant source with the statement's central claims and the plausible explanation for the difference in reporting units (ETH vs. USD), the statement is assessed as likely true with high confidence.
Summary

An Ethereum whale sold 1,654 ETH for $5.49 million in USDC and deposited it into Hyperliquid to open a 7x leveraged long position worth 11,543 ETH ($38.4 million) with a liquidation price of $2,907.6, according to Lookonchain. This follows earlier activity where the same whale boosted spot ETH holdings to 2,004 ETH worth $6.24 million, opened 20x ETH longs near the $3,115–$3,125 range, and purchased 66.13 BTC valued at $6.01 million. Historical transactions include a December withdrawal of 77,385 ETH worth $219 million, reflecting $23.47 million in unrealized profit.

Terms & Concepts
  • Whale: A term used in cryptocurrency markets to describe individuals or entities holding large amounts of a specific cryptocurrency, capable of influencing market prices.
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, staking, and running decentralized applications.
  • Leveraged longs: A trading position that uses borrowed funds to amplify exposure to an asset, potentially increasing gains or losses based on price movements.