Ethereum Whale Who Shorted ETH for $24.48M Is Now Long, Accumulating 235,765 ETH at a $3,372 Average as $100M Aave-Binance Move Signals Continued Buying
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
Shorts pay
COINOTAG News, citing on-chain analytics from CryptoQuant, notes that a large ETH holder who previously shorted for a realized profit has flipped to a long stance. The address reportedly bottomed near $3,335 on November 5 and accumulated about 191,477 ETH (roughly $6.38 billion at the time), rendering an unrealized gain of about $47.9 million.
Recent activity shows the same entity extending liquidity risk via leverage: a USDT loan of around $100 million from Aave, moved to Binance, followed by a withdrawal of roughly 44,288 ETH (about $156 million). The pattern reflects a continued accumulation dynamic within a compact timeframe.
Over the past week, this participant has added about 235,765 ETH (≈ $7.95 billion) at an average entry price near $3,372, underscoring a persistent bid in Ethereum liquidity and market depth. The data point aligns with ongoing on-chain sentiment shifts and macro risk considerations for ETH holders.