ETH Nears ATH as Whale Activity Picks Up

On-chain tracker Lookonchain reports that an early Ethereum ICO participant sold 4,283 ETH for nearly $18.7 million. The wallet originally spent about $31,000 to acquire 100,000 ETH during the ICO and is now realizing gains.

“He sold 44,284 ETH ($105M) at an average price of $2,378 since 2021, leaving 55,716 ETH ($261.6M). Total profit is roughly $366.8M, an 11,835x return!” Lookonchain wrote.

There’s movement on other fronts, too. The Radiant Capital exploiter has been cashing out ETH. Radiant lost more than $50 million across multiple chains in an October attack later linked by some reports to UNC4736, a North Korea–affiliated group. According to Lookonchain, the attacker turned a large chunk of the haul into ETH and has since traded actively.

“Ten months ago the hacker stole $53M from Radiant Capital and swapped it for 21,957 ETH,” the post noted.

On-chain data shows the exploiter recently sold 9,631 ETH—about $43.9M—at roughly $4,562 per ETH, with 12,326 ETH remaining (≈ $58.6M).

“The Radiant Capital hacker turned the stolen $53M into $102.54M by trading ETH, pocketing $49.5M (+93.5%),” Lookonchain added.

While the hacker is taking profits, other large ETH holders are switching tactics. On-chain analyst EmberCN flagged a whale who had been selling ETH but has now flipped to buyer:

  • Last week, the wallet sold by swapping 10,256 ETH for $39.336M USDT.
  • Today, the same whale bought back 10,730 ETH for $50.596M USDT (avg $4,715), then added another 4,201 ETH for $20M USDT.
  • In total today: 14,931 ETH accumulated for $70.596M USDT at an average price of $4,728.

“Another missed opportunity in the cycle—did the train leave the station and force a re-entry at higher prices?” EmberCN mused.

Accumulation is also visible at a larger scale. An unidentified entity (or coordinated buyer) acquired 33,402 ETH across two wallets. Per Lookonchain, that same buyer scooped roughly 379,000 ETH over the past 10 days—more than $1.8 billion at recent prices—underscoring intense demand.

Meanwhile, Whale Alert flagged a 60,000 ETH transfer from Coinbase Institutional to a new wallet. A newly created address 0xd537 also withdrew 3,606 ETH (≈ $17.06M) from Binance.

Taken together, these flows suggest confidence among large players and a reduced likelihood of immediate distribution. That combination can ease near-term sell pressure and support a more stable—or advancing—market environment if demand persists. It may also point to a renewed accumulation phase as ETH closes in on its prior high.

Previously, FORECK.INFO highlighted how BNB’s burn mechanics, surging BNB Smart Chain activity, and Binance’s global expansion were tightening supply—an setup now crowned by today’s $868 ATH as the market eyes the $1,000 milestone.