A large unidentified Ethereum holder has transferred approximately 103,252 ETH worth $253 million to multiple exchanges over a three-day period, creating significant potential sell-side inventory.
The whale still held approximately 64,603 ETH, valued near $156 million at the time of the initial tracking report.
At the same time, another large trader opened a 25x leveraged long involving approximately 18,587 ETH worth nearly $44.9 million, illustrating sharply divided whale positioning.
Thursday’s market rally changed the immediate context. Ether climbed above roughly $2,500 as Bitcoin surged above $80,000, giving large holders stronger liquidity if they intend to sell. Cointelegraph showed ETH trading around $2,522 during the late-day rally.
Exchange deposits do not guarantee a sale, but transfers of this size deserve attention because they increase the amount of immediately available supply.
TOKEN RECON ASSESSMENT
ETH’s price recovery has improved the tactical picture, but the whale inventory remains relevant.
The primary indicator is whether the remaining 64,603 ETH follows the first tranche onto exchanges. Continued transfers into rising prices would suggest a large holder is using strength to distribute.
Source: Onchain data attributed to Lookonchain.
