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An early Ethereum investor has likely completed a full exit from his position in ETH after data on the chain showed that holdings were transferred to a central exchange. The sale is estimated to have generated approximately $274 million in profits.
This comes at a time when it continues to face selling pressure from US institutional investors. However, some market analysts remain optimistic about the prospects of the second largest crypto.
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The original whale out of Ethereum by 344%.
Blockchain analysis firm Lookonchain reported that the investor raised 154,076 Ethereum at an average price of $517. Since the end of last week, The wallet has started to transfer ETH to Bitstamp, a centralized cryptocurrency exchange.
“Over the past two days, he has deposited an additional 40,251 ETH ($124 million) into Bitstamp and still holds 26,000 ETH ($80.15 million)” to publish The Loconchain site on January 10.
Several hours ago, the investor transferred the last 26,000 ETH to the exchange. Second For Lookonchain, the investor made a total profit of about $274 million, which represents a gain of about 344%.
These recent transfers follow a pattern of deposits Gradualism That started much earlier. Arkham data indicates that the investor initially sent a total of 137 ETH to Bitstamp about eight months ago.
This was followed by a transfer of 17,000 ETH three months ago and another 18,000 ETH about a month ago, suggesting a long-term exit strategy, rather than a one-off sale.
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The timing of the whale’s exit is also in line with… Broader signs of institutional caution . The Coinbase Premium ETH indicator is still very negative. This metric tracks the price difference between Coinbase, which is often used as a gauge of US institutional sentiment, and Binance, which reflects broader global trading activity.
A negative reading indicates that ETH is trading At a discount on Coinbase Compared to offshore platforms, which indicate increased sales pressure from American institutional participants. This trend continues until 2026, which indicates a continued position of evasion of risks among professional investors.
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Is Ethereum “worthless”?
Despite continued selling pressure, some analysts maintain a positive outlook on ETH, preferring to look beyond short-term volatility.
Quentin François suggested that Ethereum looks “significantly undervalued” when compared Its economic activity at its price .
Similarly, Milk Road added that a clear disparity emerges when examining the data. According to the post, the amount of economic activity that settles on Ethereum has continued to grow, even during periods when the price of Ethereum was behind this expansion.
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The analysis indicated that major investors still prioritize Ethereum for its uptime, liquidity, reliability of settlement and regulatory clarity.
“As more activity moves on-chain, transaction volume and fee generation increase, increasing the economic weight placed on Ethereum’s base. When usage remains high, ETH has historically struggled to remain stable for long. We’ll go higher as adoption continues. Always look beyond the surface. He said Milky way.
From a technical perspective, analysts determine… models Key points that can support the price recovery.
The balance between short selling and market confidence makes up the current Ethereum market complicated. The exit of early adopters and a negative Coinbase Premium index signal a warning, while the increase in economic activity supports the strength of the ecosystem. Whether the price of ETH will eventually conform to these fundamentals remains to be seen.
