Blockchain data reveals that a major ETH whale, previously profiting nearly $100M from trading, has shifted strategy with multi-million dollar ETH and cbBTC acquisitions.
A whale address with a historical profit of about $99.22 million from Ethereum trading recently made substantial purchases. Within nine hours, it withdrew 20,392 ETH worth approximately $47.17 million at $2,313.35 each. In the past two hours, it also opened a 500 cbBTC position valued at $38.74 million at $77,484.46 per unit. This activity contrasts with earlier reports of ETH whales liquidating holdings at losses and suggests a strategic repositioning involving both Ethereum and tokenized Bitcoin.