The largest altcoin is on the move again alongside the rest of the market, surging by over 4% daily to $2,150 as of press time. It even tapped $2,530 earlier today before it was stopped.
Its market cap has risen to well over $300 billion, but this has provided some market participants with a proper exit opportunity.
Lookonchain has repeatedly reported on a major whale who has been disposing of their ETH tokens for days. The selling spree began at the start of the month, when the unknown entity received $408 million worth of the altcoin before transferring $174 million to exchanges.
The deposits continued in the following days, with another major transfer of $253 million to multiple trading platforms. The latest was reported earlier today, which culminated in the sale of all 167,855 tokens ($408 million), meaning that the whale has disposed of the entire ETH fortune in just five days.
Insane!
This mysterious #Ethereum whale has sold off all 167,855 $ETH($408M) in the past 5 days.https://t.co/PdCiRP6taI pic.twitter.com/YbajyBEhLf
— Lookonchain (@lookonchain) September 4, 2026
Despite this substantial sell-off in just days, the underlying asset has rebounded swiftly from its dip below $2,400. It’s up by more than 4% daily and now sits above $2,500 with a market cap of $305 billion.
Its market dominance has also increased lately, going past 11% on CoinMarketCap.
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