Whale Buys Back ETH After it Lost $2.6M Selling Early

One crypto whale has re-entered the Ethereum market, investing $3.8 million in buying back 1,425 ETH at $2,670 per coin, as analyzed by blockchain analytics company Lookonchain.

This is just over a month since the same trader sold 2,522 ETH for $3.9 million at a much lower price of $1,570 per coin on April 13 — a transaction that now seems to have come too early considering Ethereum's spectacular price surge.

"Think twice before selling your bags," Lookonchain noted, highlighting the lost opportunity if the trader had only stayed in their position rather than buying back at a higher price.

Trader Loses $2.6 Million in Profits

Following the sale, ETH has recovered more than 70%, and the early exit proved very expensive. If the whale had retained the initial 2,522 ETH, today it would be around $6.7 million, a $2.67 million loss in terms of lost appreciation as well as diminished holdings.

Ethereum's recent run has also pushed it into one of the world's most valuable assets, beating out massive companies such as Coca-Cola and Alibaba.

8MarketCap estimates Ether's market cap at $321 billion, where it ranks as the world's 38th largest asset, ahead of AbbVie and close to Bank of America.

Pectra Upgrade and Institutional Inflows Fuel ETH Momentum

Ethereum's price increase is mostly due to the successful implementation of its Pectra upgrade, which improves:

Scalability

Validator user experience

Smart wallet capabilities

These enhancements are anticipated to speed up mainnet adoption and promote larger adoption across the ecosystem.

The good mood has also spread to institutional investors. A report dated May 19 by CoinShares showed Ethereum-based investment products topped the week with $205 million inflows, capturing 26% of all crypto ETP inflows.

This assisted in propelling Ethereum's YTD inflows to $575 million, pushing a general trajectory of rising demand for digital assets. The year's total crypto ETP inflows have now hit $7.5 billion.

CoinShares credited the surge in ETH interest to the Pectra upgrade, but also the recent hiring of Tomasz Stańczak as co-executive director of the Ethereum Foundation — a move that indicates further development leadership and investor confidence.

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