Ethereum Whales Make Big Moves as Market Activity Picks Up
A large Ethereum whale made a significant move by rotating $86 million from Bitcoin into staked Ether on September 21, 2026. This transaction was reported by Lookonchain and highlights the increasing activity of major players in the market.
The whale in question sold 1,107 BTC over five days and then bought 34,422 Ether, which it immediately staked. This move is notable because it involves a rotation between two major assets, rather than fresh money entering the market.
Meanwhile, another large wallet, trader 0x4cee, repurchased $20 million in Ether after booking a profit of around $3.7 million in August. This trade was made at a higher price than the previous sale and is part of a pattern where this address makes significant trades on the 21st of each month.
Additionally, Wintermute holds nearly $160 million in perpetual short positions, with an unrealized loss of around $3.57 million. Ether is the largest single short on their list.