Ethereum OG Dumps $188M Near $2,040, Buys Back ETH 23% Cheaper

A Well-Timed Exit

The investor who has been holding coins since the network’s early days sold 60,000 ETH worth about $117.25 million and 9,442 wstETH worth roughly $24 million at an average price of $2,040. The same wallet also offloaded 600 WBTC worth about $47.12 million at an average of $78,538.

Wrapped staked ether (wstETH) and wrapped bitcoin (WBTC) are tokenized versions of staked ether and bitcoin that trade onchain, allowing holders to deploy the assets across decentralized finance ( DeFi) without unwinding their underlying positions. Together, the sales totaled roughly $188 million.

Lookonchain noted that the disposals came just before the broader market crash that dragged crypto to its lowest levels of the year. By selling near $2,040, the whale sidestepped a steep decline in ether’s price over the following days.

The investor did not stay on the sidelines for long because, following the crash, they began repurchasing at a discount, buying back ether at around $1,563, roughly 23% below the average price at which it had sold. Reports put the early buyback at about $55.8 million worth of ETH accumulated over two days.

The round trip once again showed the magic of disciplined trading that has historically separated seasoned holders from the leveraged crowd that was liquidated during the same stretch. By selling high and buying low, the whale effectively increased its token holdings without adding fresh capital, a maneuver that compounds gains across volatile cycles.

Lastly, Lookonchain noted that the wallet still holds sizable stablecoin holdings, implying that the entity may continue to accumulate if prices remain depressed. That dry powder leaves room for further buying should ether extend its slide or consolidate near current levels.

A Familiar Pattern in 2026

Bitcoin.com News has previously reported on the Ethereum OG’s prior moves, as he most recently offloaded 55,000 ETH worth about $136 million a little over a week ago as sellers tested the $2,000 level (part of a wave of profit-taking by long-term holders). The trades were closely watched by backers since whenever an early Ethereum investor holding enormous unrealized gains starts to move, market sentiment alters in a big way.

The trade is one of the cycle’s cleaner round trips against an otherwise rocky market, where a near-perfect exit ahead of the crash was followed by a disciplined re-entry at a steep discount. In a market that flushed out so many leveraged traders, Ethereum OG’s playbook is fast becoming a study in patience, one that other large investors might ape over the coming year, especially since conditions are expected to remain shaky for the foreseeable future.

The crypto fear and greed index currently stands at a reading of 8, a drop of 4 points over the past 24 hours and 39 points since last month.