ETH Whale That Sold $24.9M Three Days Ago Buys Back $17.5M as Ether Stabilizes Above $2,350

Key Takeaways:

• Wallet 0x65B4 bought backmost 7,448 ETH worthy $17.5M astatine $2,350, days aft selling 10,829 ETH astatine $2,300.
• The reentry astatine a higher terms signals renewed assurance successful ether pursuing the KelpDAO exploit and Aave liquidity shock.
• Bitmine separately added 101,627 ETH worthy $233 cardinal connected April 23, reinforcing wide organization ETH request astatine existent levels.

Sold, Then Bought Back Higher

As per onchain data, wallet 0x65B4 sold 10,829 ether for astir $24.91 cardinal erstwhile ether traded adjacent $2,300 3 days ago. On Thursday, the aforesaid wallet re-entered with a acquisition of 7,448 ether astatine $2,350, astir 2% supra the archetypal exit price, for a full outlay of $17.5 million.

Image source: X

The circular travel leaves the wallet with a smaller nett presumption of 7,448 ether aft the rebuy versus 10,829 ether earlier the sale. But the determination to accumulate astatine a higher terms than the exit constituent suggests the relation views existent levels arsenic a buying accidental alternatively than treating the caller determination arsenic a top. A wallet trimming and walking distant would not repurchase wrong days astatine a higher price.

KelpDAO Aftermath Creates an Entry Window

Ethereum has been nether sustained selling pressure pursuing the KelpDAO exploit, which triggered a question of liquidations and withdrawals from Aave, the decentralized lending protocol. Aave’s full deposits dropped from astir $45.8 cardinal to beneath $30 cardinal aft the rsETH vulnerability incident, pushing ether toward $2,300 earlier the marketplace stabilized.

The volatility besides created an exit model for holders looking to trim vulnerability and a re-entry model for those convinced the selloff was temporary. The 0x65B4 wallet’s rebuy fits that signifier arsenic selling into the archetypal daze astatine $2,300 and buying backmost arsenic the marketplace finds footing supra that level is accordant with a high-conviction holder managing short-term hazard alternatively than exiting a semipermanent position.

The broader onchain representation connected Thursday supports the whale’s re-entry thesis, particularly with Bitmine adding 101,627 ETH worthy $233 cardinal successful its largest single-week acquisition of 2026, and Grayscale signaling improving conditions for integer assets arsenic bitcoin buyers attack breakeven.

Even onchain expert Ki Young Ju noted separately that bitcoin tends to beryllium “closest to a bottommost erstwhile it looks slightest attractive,” a sentiment that appears to beryllium translating into enactment for ample ETH holders arsenic well.