Massive Ethereum Whale Move Nets $31 Million Amid ETH Rally
Ethereum Whale Makes $31M Profit in Just 44 Days – An Ethereum whale has successfully capitalized on recent market movements, securing a massive $31 million profit from two ETH trades over the past 44 days. According to on-chain analytics platform Lookonchain, the whale first bought 30,000 ETH for $54.9 million at $1,830 on April 27 via Wintermute OTC. The investor later sold this ETH at $2,621 on May 22, pocketing $23.73 million in profit.
On May 27, the same whale re-entered the market, purchasing 30,000 ETH for $75.56 million, and on June 10, sold it again through an OTC trade for $82.76 million, securing an additional $7.3 million.
ETH Price Surges Toward $2,900
Ether (ETH) has surged to a 15-week high of $2,827 as of June 10, nearing the upper end of its recent trading range between $2,300 and $2,800. A daily close above $2,700 would mark ETH’s highest level since February 24.
The futures open interest (OI) for Ethereum has also surpassed $40 billion, indicating a highly leveraged environment. According to CoinGlass, $2 billion in long positions are at risk of liquidation at $2,600, while $1.8 billion in shorts could be liquidated above $2,900. This setup could trigger increased volatility as market makers hunt liquidity in both directions.
Ethereum Network Sees 70% Growth in Unique Addresses
Meanwhile, Ethereum’s network activity is booming. Unique ETH addresses interacting across chains surged 70.5% in Q2, reaching a record high of 17.4 million. The Base network is driving this surge, representing 72.81% of the 11.29 million addresses tracked last week. In contrast, Ethereum mainnet accounted for 2.23 million addresses.
Despite Ethereum’s dominance in DeFi—holding 61% of the total value locked (TVL) with around $66 billion—concerns remain around sustainability. Network fees in the last 30 days totaled just $43.3 million, raising questions amid the shift toward rollup-based scalability solutions.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
