Whale Exits Ethereum with a huge loss after holding long-term

An Ethereum whale has crystallised a loss of more than $13 million after offloading a portion of a position built up over two years, the latest sign of growing pain among large $ETH holders.

The Trade in Numbers

On-chain data flagged by @BSCNews shows that wallet 0x0340 sold 5,000 $ETH for approximately $9.38M. The entity originally accumulated 9,891 $ETH at an average cost of $3,219 per token, a total outlay of $31.84M. The recent liquidation locked in a realised loss of $13.28M on the coins sold, underlining how sharply the asset has repriced since the position was opened more than two years ago.

Wider Pressure on Long-Term ETH Holders

The move fits a broader pattern. According to CryptoQuant data, whale wallets have shed reserves as Ethereum trades below the realised price of accumulation addresses, suggesting that long-term holders who built positions at higher cost bases are now facing pressure that may accelerate redistribution.

Ethereum's quarterly performance has turned historically weak, with Coinglass data showing ETH finished Q4 2025 down 28.28%, Q1 2026 down 29.26%, and Q2 2026 down 25.43%, marking three consecutive losing quarters, a streak the asset has not posted in its trading history dating back to 2016.

The drawdown is severe enough to erase the gains of most retail investors who bought into the 2025 bull run. For large holders who entered at cycle highs, the arithmetic is similarly unforgiving. The wallet 0x0340 still retains 4,891 $ETH from its original purchase, meaning unrealised losses on the remaining position remain significant at current prices.

The exit by wallet 0x0340 is a reminder that size alone does not insulate holders from losses during a prolonged downturn, and that on-chain transparency makes those losses visible in real time.

Sources:
Ethereum Whale Reserves Drop Sharply in 2026 – Crypto Economy
Can Ethereum Price Recover in July 2026 After Historic Red Streak? – Crypto Times