A whale investor bought over $111 million worth of Ethereum (ETH) on Wednesday after dumping ETH holdings a year ago.
Citing Arkham’s data, onchain analytics provider Lookonchain reported that an unidentified whale trader spent 111.62 million USDT to purchase 50,706 ETH at an average price of $2,201, through two addresses. This was the whale’s first activity after seven months of dormancy, Lookonchain added.
The analytics platform attributed the 111.62 million USDT to the whale’s sale of 28,683 ETH a year ago at an average price of $3,892, suggesting the trader is positioning for a low entry anticipating price appreciation.
Other whale wallets have recently displayed similar trades, buying large amounts of Ethereum after a year of inactivity.
Lookonchain reported earlier this week that a trader bought 23,393 ETH with 49 million USDT, after selling 12,886 ETH a year earlier at $3,324. The analytics platform alleged the wallets were linked to ShapeShift founder Erik Voorhees, though he has publicly denied that the wallets belong to him.
According to The Block’s crypto price page, Ethereum is trading at $2,198, down 5.45% in the past 24 hours as of 9:55 p.m. ET. It is down 55.56% from its all-time high of $4,946 recorded in August 2025.
While trading at notable lows from its peak, ether, alongside bitcoin, has seen a return of institutional inflows via U.S. spot exchange-traded funds in recent weeks. In addition, the Securities and Exchange Commission released guidance on Tuesday saying that most cryptocurrencies are not securities, providing the long-sought-after clarity to the crypto market.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
