Whale's ETH Holdings Surge to 14,277 Tokens After Strategic Recovery From 1011 Crash

On December 8th, blockchain tracking data revealed a significant move by a major whale—the same entity that went short during the October 11 flash crash—has now accumulated substantial long positions totaling 14,277 ETH, currently valued at approximately $42.95 million.

Growing Long Position Signals Market Conviction

According to on-chain analyst Ai Yi’s continuous monitoring, this whale’s long position has climbed to 14,277 ETH with an average entry price of $2,965.73 per token. The accumulation demonstrates a dramatic shift in positioning compared to the entity’s previous bearish stance during the volatility event. With Ethereum currently trading near $3.09K, the accumulated position carries a floating profit of around $762,000.

Whale Behavior and Market Implications

This repositioning by a major market participant carries significant weight. The transition from short-selling during the crash to building a substantial long position suggests the whale believes in Ethereum’s medium-term strength. Such large-scale accumulation on-chain often precedes periods of buying pressure or signals institutional confidence in the asset’s direction.

The 14,277 ETH position represents meaningful conviction in the second-largest cryptocurrency, particularly given the whale’s demonstrated ability to read market inflection points, as evidenced by their previous short positioning during the 1011 crash event. Egrag crypto and other on-chain data trackers continue monitoring such whale movements as key indicators of potential market turning points.