Smart Money Wallet Nets $36.6M from $138M Ethereum Sell-Off
An anonymous Smart Money Wallet led a $138 million Ethereum sell-off by selling 38,582 ETH this week. On-chain analysis shows it acquired 77,700 ETH on Kraken since early 2024 at an average cost of $2,600 per token.
Selling at an average price of $3,577, the wallet secured a $36.6 million profit. It still holds 25,054 ETH, primarily deposited in Aave for ongoing DeFi strategies.
This large-scale Ethereum sell-off underscores profit-taking and portfolio rebalancing among smart traders. While such a sale may put short-term downward pressure on ETH prices, deep liquidity and steady demand can absorb the supply without severe volatility.
Traders should track Smart Money Wallet movements, use on-chain analytics, and apply disciplined strategies like diversification and dollar-cost averaging to navigate potential market shifts.
Neutral
Although the Smart Money Wallet’s Ethereum sell-off could exert short-term downward pressure by increasing token supply, the strong liquidity and persistent demand in ETH markets suggest the sale will be absorbed without triggering a sustained downturn. Profit-taking and portfolio rebalancing by influential traders are typical market behaviors rather than indicators of a long-term bearish trend. Traders should remain watchful, as large on-chain movements can affect sentiment and short-term volatility, and apply disciplined risk management strategies.