Ethereum whale sells 7,323 ETH for $19 million loss after staking

An Ethereum whale sold 7,323 ETH for $13.96 million on Aug. 8, realizing a $19 million loss after holding the tokens since early 2022.

The wallet, tracked by Arkham Intelligence, accumulated the tokens at an average price of $2,723 between February 2022 and March 2023, then staked them through Ethereum's proof-of-stake mechanism. The exit near $1,918 marks a capitulation after the address sat inactive for three years, according to on-chain data. Staking locked the funds, preventing a quick exit as the price slid below the entry point.

The sale came as other large holders moved the opposite way. Two wallets withdrew 30,000 ETH from Coinbase Prime and 50,000 ETH from a Fidelity-linked address on the same day, a combined $152 million in accumulation, per on-chain records. Ethereum ETFs also drew $255.6 million in net inflows in early August, fund data shows. The whale sentiment index held above 50 for six days before the moves, indicating large wallets were broadly accumulating even as 0x7C5a exited.

The divergence leaves ETH trading near $1,918, below the 100-day and 200-day moving averages converging at $1,950-$2,050. A break above $2,000 resistance opens a path toward $2,400, while a loss of $1,850 support exposes the $1,750 demand zone.

On-chain activity lags the price rebound

Daily active addresses on Ethereum have plateaued near 400,000, with the 30-day exponential moving average still trending lower. The stagnation suggests the recent stabilization is driven by technical buying rather than a pickup in network demand, a pattern that historically preceded weak rallies.

Technical signals and ETF flows

Traders are watching TD Sequential indicators flagged by Ali Charts — a black 9 and an S13 — that preceded rallies of 236 percent in September 2022 and 258 percent in April 2025. The signals, combined with the ETF inflows, have revived a $3,000 price target among some analysts, though the immediate test sits at $2,000.

For 0x7C5a, staking turned a floating loss into a realized one. The capitulation may add near-term selling pressure, but the simultaneous accumulation by two other whales and steady ETF inflows suggest institutions are treating the $1,900 zone as a floor rather than a ceiling.

This article is for informational purposes only and does not constitute investment advice.