The Returning Whale: Big Bet on Ethereum After Five Years of Inactivity

In early February, the whale or institution that had remained inactive in the cryptocurrency market made a spectacular move in Ethereum. According to on-chain data detected by BlockBeats, this high-volume entity completed a significant transaction, marking its return to the market after half a decade of silence. The transaction has generated substantial profits and rekindled attention on the behavior of large operators in ETH.

Awakening a Dormant Whale

This whale’s return was not passive. The entity, which had been dormant for five years, decided to take action with a well-defined strategy. Such moves by large operators often indicate significant changes in market perception or major strategic adjustments in their positions.

The prolonged inactivity of large operators over the years followed by sudden movements is a key indicator that on-chain analysts constantly monitor, as it can signal turning points in the Ethereum market.

Details of the Operation: Collateral and ETH Acquisition

The strategy executed by the whale involved two coordinated moves. First, it used 44,500 ETH as collateral to secure a loan of 70 million USDT. This ETH used as collateral came from a balance the whale had withdrawn from a centralized exchange exactly five years ago, when Ethereum’s price was just $1,354.

With the capital obtained through the loan, the entity proceeded to acquire an additional 30,222 ETH at an average price of $2,316 per token. This supplementary purchase significantly increases its exposure to Ethereum, demonstrating clear confidence in the project.

Substantial Profits and Market Significance

The operation resulted in extraordinary gains for the whale. Considering the collateral was accumulated when ETH was trading at $1,354 and the additional purchase was made at $2,316, the whale has unrealized gains of $42.57 million up to that point. With Ethereum’s current price around $2,060 (as of February 2026), the profits from this position remain substantial.

This move by the whale exemplifies how large operators leverage long-term market cycles. The fact that it waited exactly five years to execute this operation suggests meticulous strategic planning and a clear reading of market conditions. The re-emergence of dormant whales in Ethereum is an indicator that investors should watch closely.