On-chain monitoring has uncovered an interesting activity. A whale that previously accumulated ETH at an average price of $2,545 has been continuously reducing its holdings during the recent market rebound over the past half month, selling over 40,000 ETH and cashing out $118 million with an unrealized profit of over $15 million. Currently, this wallet holds only about 10,000 ETH.

Why is this happening? There could be several reasons. First, the bottom-fisher might feel it's time to take profits after ETH surged from $2,500 to above $2,900. Second, they might be less optimistic about the short-term market and want to adjust their positions or reallocate assets. Third, perhaps the whale itself needs liquidity.

Persistent selling by large holders might sound like a bad signal, but it’s not necessarily the case. Profit-taking during an uptrend is perfectly normal. The market needs to digest these chips before it can continue upward. This actually reminds us of a principle: simply watching price movements isn’t enough. On-chain activity is the key to understanding market rhythm.

Interestingly, while these institutions are busy arbitraging on-chain, others are doing something else—truly bringing blockchain consensus into reality. For example, transforming the power of the crypto world into global philanthropy through educational projects. This is something that can withstand any market cycle. Whether in short-term pressure or not, creating real value in the long run is the true way forward.