According to on-chain analyst Ember (@EmberCN), a major whale or institution that invested $500 million to buy BTC and ETH in early February sold off 12,000 ETH and 330 cbBTC on March 17 following the market rebound, worth approximately $51.79 million. Since the current ETH price has not yet returned to its average cost basis (ETH average cost: $2,667; cbBTC average cost: $73,837), this reduction still constitutes a loss, realizing a loss of approximately $19.66 million. The whale currently still holds a position worth approximately $603 million, including 138,000 ETH (about $326 million) and 3,670 cbBTC (about $277 million).
Whale sells $51.8M in ETH and cbBTC after market rally, still realizes $19.7M loss
TechFlowShare
Summary
According to TechFlow, a whale sold $51.8M worth of ETH and cbBTC on March 17. The ETH price remains below its average cost, resulting in a $19.7M loss on the trade. The seller, who invested $500M in early February, still holds 138,000 ETH and 3,670 cbBTC, valued at $603M. ETH analysis shows the token has not yet recovered to its cost level, despite the recent market rally.
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