An unidentified ethereum whale has finished offloading its entire 167,855 ETH stack, worth $408 million, onto exchanges over a five-day stretch. Ether has absorbed the selling and traded higher rather than falling.
Onchain trackers at Lookonchain report that a single wallet deposited all 167,855 ETH across multiple exchanges between Aug. 30 and Sept. 4, completing one of the largest single-wallet ether exits of the year. Yet the coin has climbed through the selling pressure rather than cracking under it.
Five days, three updates
The wallet's first movements surfaced on Sept. 1, when onchain sleuths found it had received 167,855 ETH from multiple addresses and had already deposited 70,739 ETH, worth about $174 million, into exchanges over the prior two days, with 97,115 ETH still in reserve. The transfers moved in 1,000 to 5,000 ETH batches, with ether trading near $2,430 at the time.
A day later, the running total had grown to 103,252 ETH, or $253 million, with 64,603 ETH still sitting in the wallet. Lookonchain's final update landed on Sept. 4, confirming the whale had sent the remaining balance out, closing the full 167,855 ETH, $408 million position. It remains unclear which exchanges received the funds.
ETFs help absorb the selling
Ether has since traded near $2,520, up about 5.2% over 24 hours, with a market capitalization near $307 billion — above the roughly $2,430 level at which the whale's first deposits landed. U.S. spot ether ETFs took in $141 million of net inflows on Sept. 3, led by BlackRock's ETHA at $72 million. Spot bitcoin ETFs pulled in $731 million the same day as bitcoin touched $82,000.
Against ether's roughly $307 billion market value, the whale's stack amounted to about 0.13% of the total — small in aggregate, but large for one seller pushing coins onto order books in a compressed window. The whale's average exit price works out to roughly $2,430, about 4% below where ether trades now.
Part of a bigger pattern
The exit follows other sizable ether sales. On Aug. 21, the "7 Siblings" wallet cluster sold 14,000 ETH for $32.85 million, while address 0xFD10 offloaded 11,252 staked ETH and 1,824 ETH, a combined $63 million, with ether trading near $2,350 at the time. At press time on Sept. 4, ether changed hands for $2,453 per unit after a bitcoin and broad crypto market sell-off around 8 a.m. EDT that morning.
Source: Bitcoin News
Trading involves risk.
Risk Disclaimer
