2026-01-05 10:26:58

The institution's cost line has been repeatedly challenged by the market.

According to on-chain data, a leading market-making institution has been deploying on Ethereum since October last year. They built a position of nearly 48,600 ETH in batches at an average cost of $3,479, with a total investment of approximately $169 million. This is a significant position.

What does this set of numbers imply? A simple calculation makes it clear — ETH still needs to rise by about $322 to return to the breakeven point for this large capital.

From on-chain behavior, the timing window for large-scale accumulation, the average cost, and the position size all reflect the institution's expectations for the subsequent market trend. When the price repeatedly fluctuates around this cost region, it is often the area that market participants pay the most attention to. It is worth continuing to observe whether this key support level can hold and the subsequent capital movements.

ETH-4,56%

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OffchainWinner

· 2h ago

Institutions also have their moments. 169 million was forcibly taken, how strong must their mentality be?

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PaperHandSister

· 7h ago

3479 is truly an awkward average price, still getting beaten up now.

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LostBetweenChains

· 01-05 10:51

The price level of 3479 cannot be firmly held, and even large institutions have to take hits along with the market.

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BearMarketNoodler

· 01-05 10:46

3479这条线，早就该破了，还在磨磨唧唧？

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RugPullSurvivor

· 01-05 10:34

1.69亿美元套进去，这得多疼啊哈哈机构也会踏空，真就没人能精准抄底呗 322美金的距离听起来不远，但这行你懂的...变数太多关键支撑能守住吗，我赌不了，只能看戏

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AirdropHarvester

· 01-05 10:32

Hmm, putting in 169 million and still needing to rise by 322 yuan to break even—this institution is quite tough. 322 yuan is not a small amount; the question is whether it can go up. This cost line really needs to hold, or it will be another bloodbath. This move by the institution shows they are still bullish; otherwise, they wouldn't be so aggressive. How many days can the support level hold? It feels pretty uncertain.

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