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ETH whale from 2016 just keeps buying the dip.
The same “smart money” wallet that accumulated 11,004 $ETH at an average price of only $3.45 back in 2016 , a trade that eventually generated over $30.38M in profit , has now expanded its latest ETH position to 6,627.79 ETH over the past three days, worth roughly $14.28M.
About 12 hours ago, the wallet added another 1,344.18 ETH on-chain, spending around $2.83M. The average cost of this latest accumulation now sits near $2,153.95.
So far the timing hasn’t been perfect, though. With ETH pulling back after the buys, the new position is currently showing an unrealized loss of around $165K. What’s interesting is that the wallet has now fully deployed all of its on-chain USDC, meaning the whale appears to be fully committed to this ETH accumulation phase.
Address: 0x3cddC25721dB851BFaD5c87F812051278A8F0a40