Ethereum Whale Capitulates After 3 Years, Losses Top $19 Million

An Ethereum whale that accumulated ETH between February 2022 and March 2023 capitulated on Aug. 8, selling 7,323 ETH for about $13.96 million and locking in realized losses now above $19 million. The sale implies an exit near $1,906 per ETH, close to the token’s spot price around $1,915, underscoring persistent pressure on long-term holders who bought much higher at an average $2,723. The article frames the transaction as a potential local-bottom signal, as large dormant holders often sell near emotional exhaustion. Separately, Galaxy Digital transferred 1,346 BTC worth $87.28 million to a newly created wallet, suggesting possible OTC activity or custody reshuffling rather than immediate exchange selling. The piece highlights continuing whale activity in both ETH and BTC, with the main market takeaway being that Ethereum remains under strain despite recent stability near current levels.