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Ethereum whales and an early investor sold $41 million in spot ETH

Ethereum whales and an early investor sold $41 million in spot ETH

According to Lookonchain, trader 0x44a1 sold the remaining 2,250 ETH for $4.81 million at a $4.07 million loss, adding to recent large-holder selling in the spot Ethereum market.

ETH

Fact Check
The claim is accurately reflected in multiple independent news reports and on-chain data tracking. The $41 million figure corresponds to the combined sales of an early investor ($30.97M) and a whale repaying debt ($10.31M), as detailed in the CoinPost article. The specific details regarding trader 0x44a1's $4.07 million loss on 2,250 ETH are also confirmed by BlockBeats and Lookonchain.
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Summary

Large Ethereum holders had already sold a combined $41 million in spot ETH on the 23rd, including an early investor who took profits on 15,000 ETH and another whale that sold $10.31 million to repay debt. Lookonchain said trader 0x44a1 then sold the remaining 2,250 ETH for $4.81 million, bringing total losses to $4.07 million. According to Lookonchain, the trader had bought 2,500 ETH eight months earlier at an average price of $3,766 for $9.42 million, making the sale another notable example of large-holder distribution during Ethereum’s downturn.

Terms & Concepts
  • spot ETH: Ethereum bought or sold for immediate settlement in the market, rather than through futures or other derivative products.
  • whale: A holder or trader controlling a large amount of cryptocurrency whose transactions can attract attention because of their possible market impact.
  • ETH: The native cryptocurrency of the Ethereum network, used for transactions, fees, and value transfer within the ecosystem.