Ethereum Whale Transfers 3,500 ETH to OKX in Three Days, Facing $155K Loss
An on-chain analysis by @ai_9684xtpa revealed that an ICO-era Ethereum whale transferred a total of 3,500 ETH (approximately $15.11 million) to OKX over three days, following an initial 2,000 ETH deposit on September 2. Based on an acquisition price of $4,396.23 per ETH, the whale currently holds an unrealized loss of about $155,000. This Ethereum whale’s significant ETH deposits to OKX could signal potential selling pressure, potentially influencing short-term volatility in the ETH market.
Bearish
The whale’s transfer of 3,500 ETH to OKX suggests potential intent to sell, adding to ETH’s available supply on the exchange. At an unrealized loss, the whale may await price recovery before offloading, which can lead to increased sell-side pressure once breakeven is approached. Historically, large whale deposits to exchanges have often preceded downward price movements in ETH as significant sell orders hit the market. In the short term, this could heighten volatility and bearish sentiment; over the longer term, sustained selling pressure may weigh on price recovery.