An unidentified ethereum whale has completed the sale of 167,855 ETH across multiple exchanges, totaling approximately $408 million. According to onchain tracking firm Lookonchain, the wallet deposited the entire stack between August 30 and September 4.
The whale received the tokens from multiple addresses and distributed them to exchanges in batches over the five-day period. The final deposit was completed on September 4, though the specific exchange destinations remain unclear.
Timeline of Deposits
Onchain monitoring revealed the wallet's movements began on September 1. The first phase saw 70,739 ETH, worth approximately $174 million, deposited to exchanges while the wallet retained 97,115 ETH. By the following day, cumulative deposits had reached 103,252 ETH, valued at $253 million.
Market Absorption
At $408 million, the sale ranks among the largest single-wallet ETH exits of the year. Despite this supply pressure, ether climbed during the selling period. U.S. spot ether exchange-traded funds contributed to demand absorption, taking in $141 million of net inflows on September 3, with Blackrock's ETHA leading at $72 million.
The whale's average exit price worked out to approximately $2,430 per ETH. Ether traded near $2,520 on the day the sale completed, representing a gain of roughly 5.2% over 24 hours. The market capitalization reached approximately $307 billion.
Context
The ethereum sale follows other significant wallet exits. On August 21, the wallet cluster labeled "7 Siblings" sold 14,000 ETH for $32.85 million, while address 0xFD10 offloaded 13,076 ETH combined for $63 million.
