Whale Band ETH Accumulates 10,000 ETH, Boosting Holdings to 44,002 ETH Despite $28.78 Million Loss

On March 11, data from COINOTAG indicated significant activity in the Ethereum market, particularly involving a notable wallet, dubbed the “Whale Band.” This entity has recently augmented its position by acquiring an additional 10,000 ETH, bringing its total holdings to 44,002 ETH since December 19, 2024. With an average purchase price of $2,563 per ETH, the total investment amounts to approximately $112 million. However, the wallet currently faces an unrealized loss of $28.78 million. This development raises questions about future price trends, as any further depreciation in ETH could potentially result in the erosion of prior profits accumulated by this whale.