ETH whales, who have been dormant for nearly two years, suddenly start large on-chain accumulation, with an average cost of $2,269.

LiquidatedAgain · 2026-03-02T06:22:29+00:00

A whale investor, after remaining silent for over a year, recently purchased 4,020.61 ETH at an average price of $2,174, with a total transaction value of approximately $8.74 million. This move has attracted market attention, indicating optimism about ETH's medium-term prospects and potentially influencing market sentiment.

LiquidatedAgain

2026-03-02 06:22:29

Abstract generation in progress

On-chain monitoring data shows that two wallets, suspected to belong to the same holder, recently made new moves. This whale investor last acted in the market in early 2024, with an average entry cost of about $2,631.88. Now, this “sleeping” large holder has suddenly awakened, accumulating 4,020.61 ETH on-chain at an average price of $2,174, totaling approximately $8.74 million.

Whale Resurgence: Reinitiating Trading After Over a Year of Silence

The timing of this transaction is quite sensitive. The whale had been inactive for over a year since February 2024. Now, suddenly making a large purchase of over 4,000 ETH on-chain, this move indicates their view of the current market. After the transaction, the total holdings of this address reach 5,122 ETH, with an average cost basis of $2,269.

Cost Basis $2,269: Current Price Trends

Notably, the whale’s average cost basis of $2,269 is close to the current ETH price of $1.97K. According to the latest market data, Ethereum is trading at around $1.97K, which is a pullback from the whale’s initial average entry of $2,174. This suggests that although the whale has completed a large accumulation, their entry timing was at a relatively high level.

Market Signals Behind the Massive On-Chain Transaction

A large whale re-entering after a long period of silence is often seen as a significant market signal. Such major players tend to have strong market insight, and their accumulation behavior may reflect optimism about ETH’s medium-term prospects. Meanwhile, a single on-chain transaction close to $10 million also draws attention from market participants and could influence market sentiment to some extent.

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