In a surprising market move, an Ethereum (ETH) whale has bought back thousands of ETH tokens after prematurely selling and incurring a $2.67 million loss. The incident has drawn significant attention from both retail traders and institutional watchers as it reflects renewed confidence in Ethereum’s price trajectory.
Early Exit Cost the Whale Millions
On-chain data from Lookonchain reveals that a crypto whale sold 10,701 ETH on April 15, 2024, for $3,126 per ETH, totaling over $33.46 million. However, in the weeks that followed, Ethereum surged past $3,500, and the whale’s decision to sell early resulted in a loss of around $2.67 million.
“The whale made a classic mistake of selling before a rally, missing out on major gains,” analysts commented.
Whale Re-Enters Market Amid Renewed ETH Momentum
On May 21, 2025, the same whale bought back 10,701 ETH worth $37.28 million at $3,484 per ETH, according to data from Etherscan and Lookonchain. This bold move signals the whale’s renewed faith in Ethereum’s long-term growth, despite buying back at a higher price than the original sale.
“This buyback shows conviction in Ethereum’s future, even after realizing substantial losses,” one crypto analyst noted on Twitter.
Ethereum Price Action Supports Bullish Sentiment
Following the whale’s repurchase, Ethereum’s price remained stable above $3,480, indicating strong market support. The transaction also coincides with broader optimism in the crypto market as Ethereum continues to gain traction with upcoming upgrades and increasing institutional interest.
At the time of writing, ETH is trading at around $3,486, up 4.2% over the past 7 days, with trading volume increasing by nearly 10%.
What This Means for Traders
Whale activity often provides insights into market sentiment. This large-scale buyback may hint at an upcoming bullish trend, prompting many retail traders to monitor ETH closely. However, experts also warn against following whales blindly, emphasizing the importance of strategy and risk management.
“Whales can afford volatility; retail investors should tread carefully,” said a market strategist at Glassnode.
Conclusion
The Ethereum whale’s decision to buy back ETH after a $2.67 million loss underscores the high-stakes world of crypto trading. While costly, this move reflects a strong belief in Ethereum’s future price potential, offering both a lesson and an opportunity for market participants.