On-chain data shows that a large investor in Ethereum made significant moves today, increasing their holdings by 46,378 ETH in a single day. This whale player now has a total of 580,000 ETH in reserves, but their unrealized losses amount to as much as $188.6 million.

Looking at the position size and loss extent, it indicates that this Large Investor entered the market quite early, possibly building the position when Ethereum was at a price peak. Even though they are clearly in an underwater state, they are still continuously buying, which usually reflects a positive outlook from large funds on the long-term market. Many market participants believe that the Whale's accumulation behavior often reflects the true judgment of institutions and Large Investors on the subsequent market trends.