A significant market participant, commonly referred to as a “whale,” who was liquidated for 2,890 wrapped staked Ether (wstETH) valued at approximately $8.06 million during the market crash on August 5, has resumed buying Ethereum.
According to blockchain data, the whale has borrowed $6.6 million in DAI, $2.7 million in USDT, and $2.5 million in USDC since August 11 to acquire 4,459 Ether (ETH) at an average price of $2,646 per ETH. The total purchase is valued at $11.8 million.
The whale’s address, identified as 0x940df59ba33f3387deff3c2400fecf1286fcce4c, has become active again after the recent liquidation, indicating a renewed long position in Ethereum despite the recent market volatility.
This activity follows the significant market downturn earlier in August, which led to widespread liquidations and a sharp decline in cryptocurrency prices. The whale’s decision to re-enter the market with substantial leverage suggests confidence in Ethereum’s potential recovery.
