Ethereum Whale Cuts 42,000 ETH After Overnight Drop, Realizing $21.12M

A large Ether (ETH) holder reduced most of its position after an overnight decline, transferring 42,000 ETH worth about $112 million and realizing an estimated $21.12 million profit.

The address reduced the holdings at an average price of $2,664 and sent the tokens to Galaxy Digital. The move followed an addition of 15,000 ETH the previous day.

The address had accumulated 52,000 ETH at an average price of $2,161 over nearly two months. The latest transfer leaves about 10,000 ETH from that accumulated position, based on the reported holdings and reduction.

The transaction highlights how large Ether holders can quickly adjust exposure after sharp market moves, with the transfer representing most of the address’s recently accumulated position.