Whales Split on Ethereum: Profit-Takers Sell as Bitmine Bets Big With $113 Million Buy

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Well, well, well… a true original Ethereum ICO participant, after eight long years of slumber, finally decided it was time to wake up. This brave soul transferred a whopping $6 million in ETH to Kraken, celebrating a 12,971x return on investment. Meanwhile, over at Bitmine, Fundstrat’s pals decided to flex and throw $113 million into Ethereum like it was pocket change. Must be nice, huh? Their Ethereum stash is now worth over $13 billion!

The Ethereum whale world is a curious place these days. Some are cashing out like it’s Black Friday, while others are swooping in, buying the dips like seasoned pros. The market’s sentiment? Well, it’s about as divided as a pie chart at a math convention.

When the Ethereum ICO Wallet Decides to Get Off Its Lazy Butt After 8 Years

In a shocking turn of events, a wallet from the Ethereum 2014 ICO finally made its first move in eight years, sending 1,500 ETH (that’s $6 million, folks) to Kraken. Somebody’s been napping through a bull market!

This wallet originally snagged 20,000 ETH for a mere $6,200. Now, with Ethereum’s shiny new price tag, its remaining stash is valued at $80.42 million. Yep, that’s a tidy 12,971x return-so let’s all agree: they’re doing alright.

An #Ethereum ICO participant just woke up after nearly 8 years of dormancy, depositing 1,500 $ETH($6M) to #Kraken for the first time.

This OG (0x3690) received 20,000 $ETH at genesis, with a purchase cost of $6.2K, now worth $80.42M – a 12,971x return.…

– Lookonchain (@lookonchain) October 29, 2025

For those who weren’t there, Ethereum’s ICO in 2014 sold ETH for $0.30 each. They raised over $18 million, making it the most “Hey, let’s just make a coin and see what happens” thing ever. Fast forward to 2015, and Ethereum’s blockchain was off and running.

It’s not every day we see someone dusting off their old wallet for a nice profit after nearly a decade of doing absolutely nothing. This particular participant still holds 18,500 ETH, so clearly, they’re not planning to throw in the towel anytime soon.

With Ethereum trading around $4,001, the market cap sits at a colossal $482 billion. Meanwhile, the daily trading volume is strutting around at $35.5 billion. Who’s complaining?

Institutional Players Are Coming In Hot-Bitmine’s $113 Million Ethereum Shopping Spree

Meanwhile, on the other side of the Ethereum universe, Bitmine-your friendly Fundstrat buddies-decided to load up on Ethereum, dropping a jaw-dropping $113 million for 27,316 ETH. Talk about institutional confidence! Their Ethereum haul now totals a cool 3.34 million ETH, valued at around $13.3 billion.

Tom Lee(@fundstrat)’s #Bitmine just bought another 27,316 $ETH($113M) and currently holds 3.34M $ETH($13.3B).

– Lookonchain (@lookonchain) October 29, 2025

Tom Lee, the man with the plan, founded Fundstrat in 2024 and took the reins at Bitmine Immersion Technologies just last June. In a few short months, Bitmine’s Ethereum holdings have soared to a figure that will make your head spin. They are now the proud owners of the largest publicly traded Ethereum treasury on the planet. Move over, Bitcoin!

Pantera Capital’s research suggests that Bitmine’s strategy signals a big shift of institutional capital onto the blockchain. Ethereum, in case you haven’t noticed, is the darling of the institutional crowd right now.

Lee has been comparing Ethereum’s current position to Bitcoin in 2017-saying that Ethereum’s ecosystem is now entering a phase of rapid institutional adoption. How’s that for a ringing endorsement?

Bitmine’s buying spree means they now hold nearly 1% of Ethereum’s total supply. That’s some serious commitment right there. These guys aren’t just buying up Ethereum; they’re making a bold statement about Ethereum’s future in decentralized finance and blockchain infrastructure.

And with more institutional players jumping in, you can bet this trend isn’t going away anytime soon. If you thought the blockchain was just for tech nerds, think again-this is mainstream now, baby.

Whale Drama: Shorting, Buying, and Everything In Between

The Ethereum whale market has officially become a soap opera. Some whales are out there scooping up ETH like it’s going out of style, while others are betting against the very same asset. It’s a real “buy low, sell high” vs. “bet against everything” showdown.

One whale, for example, timed the ETH market bottom with such precision, you’d think they had insider information. They bought 8,240 ETH and 6,000 ETH at the market’s absolute low, pocketing a cool $29 million with a 150% return. Others? Well, they’re aggressively shorting ETH, hoping it takes a dive.

The market is down – how’s the bulls vs bears battle playing out?

Long:
• 0xc2a3 (100% win rate) closed all 2,186 $BTC($256.56M) longs with only $1.4M profit.
• 0x4e8d (69.23% win rate) partially closed 419.48 $BTC($47.68M) longs at a $327K loss.
• Machi Big Brother added…

– Lookonchain (@lookonchain) October 29, 2025

This makes for some entertaining drama, but it also highlights just how uncertain the Ethereum market is right now. Large wallets continue to make moves that defy prediction, and no one really knows what will happen next.

In the end, Ethereum’s future is still very much up in the air. Will institutional adoption win the day, or will the bears have their way? Only time will tell. But it’s clear that Ethereum is at a crucial juncture, with some major players making big moves, while others hedge their bets. Grab your popcorn-this show is far from over.

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2025-10-29 14:39