Ethereum OG Whale Sells 2,000 ETH Bought at $18.8 for 15,600% Profit

OG Whale Cashes Out After Nine Years

A nine-year-dormant Ethereum (ETH) wallet has reawakened to cash out near the top of one of the market's strongest rallies. On-chain data tracked by Lookonchain shows the address bought 3,000 ETH from Gemini in 2017 at an average price of $18.80 — a total outlay of just $56,500. This week the owner moved another 1,000 ETH, worth $2.68 million, to a Kraken deposit address, bringing cumulative sales to 2,000 ETH at an average of $3,096, or $6.19 million. That is roughly 156 times the original stake, with a 15,600% profit booked on the portion sold; 1,000 ETH valued at $2.67 million remains in the wallet. The exit is not isolated: in the final week of September, a holder whose position dates to 2023 moved more than 112,000 ETH ($300 million) to Bitfinex, while an over-the-counter sale cleared 42,005 ETH for $111.9 million.

Lookonchainhttps://x.com/lookonchain/status/2104752068263366943?s=20

Best September Since 2016

Ethereum is closing its best September since 2016. The token traded near $2,712.51 as of September 29, leaving the month's net gain at 9.76% — a sharp break from a month that has historically averaged a loss of 8.57%. The climb back above $2,700 erased prior bearish chart structures, and ETH held 0.032 BTC, recovering faster than Bitcoin from the October 10, 2025 liquidation shock that took months to repair. Derivatives demand rebuilt in parallel, with ETH open interest back above $18 billion as spot buying drained exchange reserves. Accumulation followed: one anonymous whale pulled roughly $31 million of ETH off OKX and Binance into a self-custody address, and accumulator wallets expanded through September to hold more than 23 million ETH. Roughly 35.72% of supply — over 43 million coins — is now staked, and treasury companies collectively hold 8.49 million ETH, led by Bitmine's stash of more than 6 million.

Altcoin Breadth Flashes Early Warning

According to CryptoQuant, the altcoin rally now carries its first warning signals even as capital inflows accelerate. Analyst Darkfost notes that about 87% of altcoins listed on Binance have turned back above their 200-day moving average, versus roughly 80% trading below it in August — a breadth swing he says signals broad euphoria that historically has not sustained indefinitely. The Total2 index, which tracks the altcoin market capitalization including Ethereum, has absorbed more than $371 billion since June 2026, a gain of about 45%. Flows into exchanges are also climbing: weekly average altcoin deposits reached 22,700 on Binance and 8,300 on Coinbase, with roughly 32,000 across other venues — the highest levels since the October 2025 market peak. His most prominent caution is a bearish divergence on the Total2 RSI, where prices keep rising while momentum weakens.

Ether Leads Majors Higher

Ether led the majors in Tuesday's session, adding 2% to trade near $2,720 while Bitcoin rose 1% above $84,200 and found dip buyers around $82,500 as the 10-year Treasury yield steadied near 5.25%. Fund-flow data shows U.S. spot ether ETFs took in about $17 million on Monday, matching a seventh straight session of inflows, while ZEC was the day's outlier, dropping 9% to about $1,423. Alex Kuptsikevich, chief market analyst at FxPro, said in emailed comments that crypto markets are cautiously rebounding from last week's lows near $2.83 trillion, though the market stays in a short-term downtrend below $2.90 trillion as a strengthening dollar and equity-market unease weigh on sentiment. Readers tracking the market in real time can follow live spot and futures prices on Gate.

$2,809 Ceiling, $2,700 Floor

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $2,808.88 resistance at 86/100, driven by the confluence of the Keltner Upper, Donchian Upper and the swing-high zone where price stalled after rejection near $2,800 earlier this week. First support at $2,700.04 scores 64/100 (Pivot Point, Ichimoku Tenkan), with deeper backing at $2,556.73, rated 67/100 (HVN, Flip R→S). Positioning is mildly long-biased: the perp funding rate sits at 0.0065%, aggregate open interest stands near $11.75 billion, and the long/short account ratio reads 1.22 (54.9% long). With the Fear & Greed Index at 73 (Greed), RSI at 65.22 and a bearish MACD cross, the bullish case needs a clean break above $2,809 to open the $3,159 extension; a daily close below $2,700 — and failure of the $2,556 shelf — would invalidate it.