Whale Accumulates Over 66,000 stETH Valued at $212 Million

Whale Accumulates Over 66,000 stETH Valued at $212 Million

Recent on-chain activity shows a 2016 ETH whale deposited $41.93M to Coinbase, contrasting with a major stETH accumulator and highlighting divergent strategies among Ethereum holders.

ETH
USDT
STETH

Fact Check
The assessment is based on strong, direct evidence from highly authoritative and relevant sources. The primary source from Arkham Intelligence, a reputable blockchain analysis firm, is perfectly relevant as its summary explicitly mentions a report on the 'largest holder of Lido Staked ETH (stETH).' This directly supports the core of the claim. Further corroboration comes from Lookonchain, another respected on-chain analyst, which tracks large-scale stETH movements, confirming that activity of this magnitude is plausible and monitored. The Cryptorank article, while not matching the exact figures, documents a similar event of a single whale accumulating a massive ($100 million) amount of stETH, establishing a clear precedent for such holdings. There is no conflicting evidence among the provided sources; the majority of the sources are simply irrelevant to the specific claim about stETH holdings. The convergence of a direct, authoritative primary source with other highly relevant, corroborating evidence makes the statement highly likely to be true.
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Summary

On Jan. 21, on-chain analyst @ai_9684xtpa reported that a 2016 ETH whale deposited 14,183 ETH worth $41.93 million to Coinbase, marking his first million-dollar deposit in three years. This address last accumulated ETH between February and November 2022 at an average price of $1,236.65. This development follows earlier reports of whale address 0x81D borrowing $155 million USDT to purchase 65,700 stETH, raising total holdings to 142,777 ETH worth about $460.11 million. In contrast, whale address 0x3c9E sold 1,000 ETH for $4.19 million, continuing a short-term trading pattern. These activities highlight differing strategies among prominent Ethereum whales.

Terms & Concepts
  • Whale: A term used to describe an individual or entity that holds significant amounts of cryptocurrency, capable of influencing market prices.
  • wstETH: Wrapped stETH, a token representing staked Ether in Lido that maintains a fixed exchange rate with stETH, allowing easier trading and DeFi integration.
  • stETH: Staked Ether, a token representing Ethereum staked via the Lido protocol, accruing staking rewards over time.