An ETH OG whale is currently cutting losses and going long with leverage, holding a total long position of $56.18 million.

GateUser-6433627c · 2026-02-24T03:05:10+00:00

On February 24th, on-chain analysts discovered that a whale who accumulated ETH in 2017 sold 23,924 ETH in the spot market, worth approximately $45.18 million, while simultaneously opening leveraged long positions, aiming to buy back at lower prices. Currently, they hold a long position worth $56.18 million, with an unrealized loss of $6.462 million.

GateUser-6433627c

2026-02-24 03:05:10

Abstract generation in progress

On February 24, according to on-chain analyst Ai Yi (@ai_9684xtpa), the OG whale who accumulated ETH in 2017 is now cutting losses on spot holdings and leveraging long positions. Address 0xead…E9D55 sold 23,924 ETH over the past 10 hours at an average price of $1,888.71, worth $45.18 million. Interestingly, after reducing spot holdings, it deposited $15.998 million USDC as margin into Hyperliquid and placed limit buy orders for BTC / ETH / HYPE, planning to reopen longs at lower levels. Currently, it holds a $56.18 million position, mostly long, with an unrealized loss of $6.462 million. This whale received 19,000 ETH two years ago, accumulated in 2017 at a low cost of $357; also, two weeks ago, it received 7,038 ETH, which was withdrawn from trading platforms between December 2023 and April 2024 at an average price of $2,709.43.

ETH-0,8%

HYPE3,66%

USDC0,01%

BTC-1,1%

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