Ethereum Whale Sells 33,585 ETH for $85.38 Million, Realizes $806,000 Profit in Seven Hours

An Ethereum whale has sold 33,585 ETH for $85.38 million, realizing a profit of $806,000 in just seven hours. This sale is part of a broader strategy that has already yielded over $30 million in profits from Ethereum trades. The whale, which had accumulated $333.78 million worth of ETH in mid-June, has been strategically taking profits while maintaining a significant staked position.

The whale still holds 100,000 ETH staked, valued at approximately $261.4 million. This indicates a long-term bullish stance on Ethereum, even as the whale locks in short-term gains. The move reflects a common institutional tactic of selling some tokens at high prices to manage risk and secure profits, while keeping a core staked position to benefit from long-term price appreciation.

This activity by the whale is likely to influence market sentiment. Traders may view the sale as a short-term cautionary signal, but the continued staking of 100,000 ETH shows confidence in Ethereum’s long-term value. Such moves reinforce the idea that while price surges are good for gains, large holders are still committed to the long-term prospects of Ethereum.