In an X post on Tuesday, November 14th, the cryptocurrency on-chain data analysis firm Lookonchain reported significant whale activity as the price of Ethereum has surged.
One whale address, “0xee47”, has reportedly increased their Ethereum holdings by 3,200 ETH worth approximately $6.7 million over the past seven months. This whale now holds 183,742 ETH valued at around $387.8 million, reflecting an estimated $154 million profit.
Another whale, “0x78D0”, has accumulated 12,680 ETH at an average price of $1,768 from the Kraken exchange since late May.
Their total holdings now amount to $26.16 million, with an estimated $3.7 million profit. Meanwhile, whale “0xBf71” deposited 30,001 ETH worth $62 million to an exchange, representing a total loss of $183 million.
These whale movements come as Ethereum has held steadily above $2,000 over the past week following the registration of an iShares ETH Trust by BlackRock. The trust was registered on November 9th, sparking a 9% Ethereum price increase and drawing the attention of both retail investors and whales in the aftermath.