Ethereum Whale Repurchases 7,448 ETH for $17.5M

An unidentified Ethereum whale repurchased 7,448 ETH worth about $17.5 million at an average price of $2,350 on Wednesday, just three days after selling 10,829 ETH valued at nearly $25 million around $2,300 per token. The move, tracked by blockchain analytics platforms, reduced the trader's net position by 3,381 ETH but occurred at a premium, suggesting confidence in Ethereum's near-term recovery amid recent market turbulence.

The transaction unfolded as Ethereum traded near $2,300, stabilizing after dipping toward that level earlier in the week. Sell pressure had stemmed partly from the KelpDAO exploit, which prompted liquidations and withdrawals from the Aave lending protocol, dropping total deposits from $45.8 billion to under $30 billion. Ethereum has since held above $2,200, roughly 32% above its February low near $1,750.

Compounding the bullish signals, other large traders escalated leveraged bets. One whale opened a $90.8 million long position with 20x leverage, while another initiated a roughly $61 million ETH long at 20x leverage around $2,303 on the Hyperliquid exchange. Separately, a trader who realized $44.6 million in profits over two months added 12,000 ETH to a...