Two ether whales have poured a combined $106.4 million into ETH over five days, helping push the token above $2,700 for the first time since Jan. 31. One buyer staked its entire haul while a second made a round-trip through USDC that triggered an address-poisoning attempt within minutes.
A Whale Rotates Out of Bitcoin and Into Staked ETH
A whale sold 1,107 BTC worth $86.76 million on Hyperliquid and bought 34,422 ETH worth $86.5 million, staking the entire amount, onchain analytics account Lookonchain reported. The move builds on activity first spotted on Sept. 18, when trackers flagged 11 newly created wallets, likely controlled by the same entity, that had sold 602 BTC for 18,780 ETH over three days. In the 72 hours since, the whale has added roughly 505 BTC of selling and 15,642 ETH of buying.
Staking the coins rather than parking them on an exchange suggests a medium-term bet rather than a quick flip. It is also not an isolated case this month: a separate wallet sold 866 BTC for 26,924 ETH hours before the CLARITY Act vote on Sept. 15.
A Second Buyer's Round Trip Draws Scammers
A second wallet, 0x4cee, has made smaller but stranger moves around the 21st of each month. It sent 20 million USDC to Binance on July 21 and came back with 10,501 ETH at about $1,904, then sold 10,500 ETH at an average of $2,252 on Aug. 21, booking a $3.66 million profit. On Sept. 21, it transferred $32.17 million in USDC to Binance and pulled back 7,567 ETH worth $19.93 million. That figure sits below the $40 million circulating on social media, leaving roughly $12 million of the deposit unaccounted for onchain.
Within minutes of the real transfers, more than two dozen lookalike token contracts spoofed "USDC" and "ETH" with look-alike characters, routing to addresses that copied the first and last characters of the real Binance deposit address. The tactic is known as address poisoning, but every real transfer this time went to the right address.
Whales, Not Funds, Are Behind the Move
Spot ethereum ETFs shed $140 million in the week to Sept. 18, so the rally is running on individual buyers rather than fund flows. ETH is trading near $2,738 at press time, up about 6% in 24 hours and 11% over 30 days, having first broken above $2,600 during the Sept. 11 CPI squeeze. Bitcoin has moved upward in parallel, surging close to $85,000 over the past hour and lifting the broader market with it.
Source: Bitcoin News
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