The short version
- Ethereum whale wallet 0x9EcA bought 27,553 ETH, about $63 million, in just over four hours overnight, the night after Ethereum ETFs lost $1.61 billion in October.
- It kept none of it: two fresh wallets now hold 24,874 ETH, and a third has sent 629.5 ETH out through cross-chain swap services since 02:45 UTC.
- Next: whether the two wallets holding $57 million of ETH stay put or follow the third across chains. We’ll post any big move on Base Camp on X.
An Ethereum whale spent about $63 million on ETH in just over four hours overnight, right after Ethereum ETFs closed their worst month of the year. Onchain trackers flagged it as a big buy into weakness. We followed the coins, and the picture is less simple.
The wallet, created minutes before it started, bought 27,553 ETH between 23:44 UTC on Sunday and 04:02 UTC on Monday, at an average of about $2,286. The Ethereum whale didn’t keep any of it. Every batch went straight on to fresh wallets, and part of it is now being moved off Ethereum through cross-chain swap services. So who buys $63 million of ETH and ships it out within hours?
Lookonchain spotted the buying two hours in, when the count stood at 16,658 ETH:
Whales are buying $ETH like crazy on-chain!
Over the past 2 hours, whale 0x9EcA spent 37.96M $USDC to buy 16,658 $ETH at an average price of $2,279.
The whale is still buying!
arkm.com/explorer/addre…
How Much ETH Did the Whale Buy?
27,553 ETH for $62.98 million in stablecoins, more than the $38 million to $42 million in the first reports. The wallet 0x9EcA…5547 kept buying after the first posts went out.
The method was patient. USDC and later USDT arrived in round lots, often $800,000 to $2 million at a time, and each lot was swapped for ETH within minutes through UniswapX, which fills large orders through competing market makers instead of one pool. That spreads the buying out and keeps the price impact small. Onchain analyst Ai Yi traced the stablecoins to Kraken and Crypto.com, based on Arkham labels.
Timing gives the buy its weight. Ethereum ETFs lost about $1.61 billion in October, according to Farside data, and ETH fell 16% over the month. A single buyer putting $63 million to work the night after is a story either way.
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Where Did the Ethereum Whale Send the ETH?
To two new wallets, almost as fast as it bought. One received 15,085 ETH and the other 12,033 ETH, and neither had any history before Sunday night. Together they still hold 24,874 ETH, about $57 million.
The interesting part is the rest. The first wallet passed 2,200 ETH to a third address, and that one has been sending ETH out in lots of 10 to 100 since 02:45 UTC. By our last check it had moved 629.5 ETH, about $1.4 million, in 18 transfers through Chainflip, SWFT, Rango and Harbor. All four are services that swap coins across chains. In plain terms, that ETH is leaving Ethereum. Another 1,570 ETH sits in the same wallet.
We can’t say who is behind it. An over-the-counter desk filling a client order could look like this, and so could a fund moving money to another chain. What it doesn’t look like is an ETH whale tucking coins away in cold storage, which is how most “whale buys” posts read.
One more detail shows how closely these wallets are watched. Within minutes of each transfer, scammers sent fake tokens from look-alike addresses that copy the first and last characters of the real ones. That trick is called address poisoning: it hopes the sender copies the wrong address from their history next time.
SIDE TRAIL: Ethereum ETF Outflows Hit $1.61B in October, Their Worst Month of 2026
Ethereum Price: Did the $63M Buy Move ETH?
Barely. The Ethereum price sits at $2,290 at the time of writing, up about 1% in 24 hours, and it never left its $2,251 to $2,318 range overnight. The buying added up to less than 1% of the $6.9 billion in ETH traded over the past day.
The 200-day moving average at $2,159 is the floor that matters now; ETH dipped to $2,174 on October 30 and bounced before reaching it. Above, the 50-day average at $2,513 and the $2,527 swing high form the ceiling. If the two wallets holding 24,874 ETH stay put, the whale’s average near $2,286 becomes a level buyers will watch. If they follow the third wallet across chains, it was never a bet on ETH in the first place.
TRAIL MAP: How to Send Crypto Without Losing It: Networks, Addresses and Test Transactions
TANG has been trading crypto since 2017. The focus is technicals, DeFi and onchain data. On the chart, that means high-timeframe support, moving averages and momentum divergences. Onchain, it means regular checkups on where the data puts the cycle. TANG once ran CryptoJungle, a free community for researching and trading together, and brings that same spirit to Base Camp as one of its co-founders.
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