A dormant Ethereum whale has reappeared after seven months of inactivity, spending 111.62 million USDT to acquire 50,706 ETH at an average price of $2,201. Arkham Intelligence data shows the transaction occurred recently, with the funds flowing through Cow Protocol settlement contracts in multiple batches over a short window.
The move caps a textbook buy-low-sell-high cycle. One year ago, the same address sold 28,683 ETH at an average of $3,892, locking in 111.62 million USDT. After sitting idle, the whale redeployed the entire proceeds back into ETH at roughly half the exit price, capturing a substantial unrealized gain as ETH trades higher today.
A mysterious whale returned after 7 months of inactivity and spent 111.62M $USDT to buy back 50,706 $ETH at an average price of $2,201.
1 year ago, this whale sold 28,683 $ETH at an average price of $3,892 for 111.62M $USDT.
What a perfect buy-low-sell-high move!… pic.twitter.com/3F56jkgr2y
— Lookonchain (@lookonchain) March 19, 2026
A crypto whale is an individual or institution holding a large amount of cryptocurrency, typically 1,000+ BTC, capable of influencing market prices and liquidity through big trades. Their actions, such as buying (accumulation) or selling (dumping), can drive market trends and volatility, making them important to track using on-chain data tools.
Dormant address awakens with large buy
On-chain records reveal the whale’s address had zero activity since the 2025 sale until this week’s aggressive accumulation. The purchases were executed in several large tranches via Cow Protocol, with individual swaps ranging from hundreds of thousands to millions of dollars. The total inflow of 50,706 ETH matches the scale of the prior exit, indicating a deliberate re-entry at perceived undervalued levels.
Perfect timing highlights market cycle play
The whale’s re-entry comes amid Bitcoin and Ethereum consolidation, with ETH hovering near multi-month lows before the recent recovery. By selling high in 2025 and buying back significantly lower, the address demonstrates classic cycle timing that many traders aim for but rarely execute at this scale. The transaction has drawn attention across on-chain analytics platforms, with the address now holding a fresh 50,706 ETH position worth over $110 million at current prices.
No public identity or further intent has been disclosed, but the precision of the round-trip trade underscores how large players exploit volatility across market phases.
Meanwhile, a cryptocurrency trader lost approximately $50.4 million in a single transaction after executing a high-slippage swap through the Aave protocol interface.
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