Ethereum Whale Capitulates with $19 Million Loss, Galaxy Digital Moves $87M BTC

An Ethereum whale who bought into the asset in 2022 and 2023 has capitulated, selling 7,323 ETH at a loss of over $19 million.

The whale accumulated ETH between February 2022 and March 2023 at an average price of $2,723, then staked the holdings rather than trading around them. However, patience ran out this week as the wallet sold 7,323 ETH for roughly $13.96 million, an average exit price far below its cost basis.

This kind of capitulation tends to show up near local price bottoms when even long-term holders decide the wait is no longer worth it. The whale's ETH movements resulted in a cumulative loss of $19 million, per Arkham.