Ethereum whale sweeps 40 million USD in 2 hours! Holds 270 million and remains steadfast in not selling

Ethereum whale wallet 0x3952 purchased 12,000 ETH within two hours, valued at $39.98 million. Since June, the whale has withdrawn 116,000 ETH from Binance at an average cost of $3,138 per ETH. Although realizing a profit of $47.5 million, it still holds 80,979 ETH worth approximately $270 million.

Strategic Intent Behind the Withdrawal of 116,000 ETH

(Source: Arkham) According to Lookonchain data, this Ethereum whale has withdrawn a total of 116,000 ETH from Binance since June 22, 2025, when the average price of ETH was about $3,138. This indicates that the whale was heavily accumulating ETH when prices were well below current levels. Transferring ETH out of exchanges generally suggests long-term holding intentions, as exchange wallets are suited for frequent trading, while cold wallets are used for long-term storage.

This large-scale withdrawal behavior is significant in crypto market analysis. When whales transfer tokens out of exchanges, circulating supply decreases; if demand remains stable or increases, prices face upward pressure. The 116,000 ETH represents a substantial portion of Ethereum’s daily trading volume, and such a scale of withdrawal can materially impact market supply and demand dynamics.

Even more noteworthy is the timing of these withdrawals. In June 2025, ETH prices were relatively low, and market sentiment was pessimistic. It was precisely during this “fear” period that the whale began accumulating on a large scale, demonstrating a classic contrarian investment strategy. Building positions at market lows is often a hallmark of successful investors.

From June to now, this whale has continued to withdraw ETH from Binance, indicating a staged accumulation strategy rather than a one-time purchase. This approach is more cautious and sustainable, smoothing out purchase costs and reducing risk exposure at any single price point. Staged accumulation also suggests long-term confidence in ETH and a willingness to continue accumulating at different price levels.

Locking in $47.5 Million Profit with a Low-Buy, High-Sell Strategy

(Source: CoinGecko)

This Ethereum whale is not just buying and holding all ETH, but has sold some as prices rose. Currently, the wallet has deposited 35,021 ETH into Binance at an average of $4,035 per ETH. This move helps lock in profits while still holding a large amount of ETH. From the ETH sold, the whale has realized approximately $47.5 million in gains.

This low-buy, high-sell strategy demonstrates careful planning and patience. The whale bought at an average of $3,138 and sold at an average of $4,035, achieving about 28.6% profit. This return was realized within a few months, showcasing professional risk management. More importantly, the 35,021 ETH sold accounts for only about 30% of the total holdings of 116,000 ETH, leaving 70% retained. This allocation indicates that the whale is not a short-term speculator but has a long-term bullish outlook on Ethereum, optimizing gains through tactical trading.

Three Major Strategic Features of Whale Operations

Staged Accumulation to Reduce Risk: Continuous buying since June, smoothing costs and avoiding risks at a single price point

Swing Profit Taking: Selling 30% of holdings to lock in $47.5 million profit, reducing overall cost basis

Core Position Retention: Keeping 70% of holdings valued at $270 million, reflecting strong confidence in long-term prospects

This balance between profit-taking and continued holding is often regarded as a wise move by experienced investors. Selling part of the position not only locks in gains but also lowers the average cost of the remaining holdings. Assuming the whale initially invested about $364 million (116,000 × $3,138), selling 35,021 ETH at $4,035 recovers about $141 million, reducing the actual cost basis of the remaining position to approximately $223 million. The remaining 80,979 ETH, currently valued at about $270 million, still shows an unrealized profit of roughly $47 million.

Market Signal Behind $270 Million Holdings

Even after selling part of the holdings, this Ethereum whale still owns 80,979 ETH, valued at about $270 million at current prices. Holding such a large amount indicates strong confidence in Ethereum’s future. Major investors typically conduct thorough research before making such long-term decisions, and their holdings often reflect a comprehensive judgment of fundamentals and technicals.

Whales control vast amounts of crypto assets, and their actions can influence market sentiment. When Ethereum whales increase their ETH holdings, it often boosts confidence among smaller investors. Many traders interpret this as a bullish signal, especially during periods of market calm or volatility, and whale buying activity amplifies this effect. Ethereum’s broad use in applications, smart contracts, and DeFi makes it attractive for long-term growth. Large investors believe that over time, Ethereum’s ecosystem will continue to expand.

The recent purchase of 12,000 ETH within two hours typically occurs when whales judge the price to be undervalued or about to rise. Completing such a large buy in a short period requires sufficient exchange liquidity and precise execution strategies to avoid pushing up the purchase cost excessively. This professional operation demonstrates that the whale has mature trading infrastructure and market analysis capabilities.

While no single Ethereum whale can control the entire market, sustained buying like this often supports prices. If more large investors follow similar strategies, Ethereum could see stronger demand in the future. From a supply-demand perspective, withdrawals of ETH from exchanges and long-term holdings reduce circulating supply, which can drive prices higher if demand remains steady. The rapid purchase of 12,000 ETH, combined with the whale’s months-long accumulation, provides strong demand support for Ethereum.