TradingBeats reported that the largest on-chain Ethereum long address has started taking profit, with the wallet identified as being linked to BIT. About five minutes before the alert, the address reduced its position by 14,000 ETH, worth roughly $34.15 million. After the sale, the remaining position stood at about $25.24 million. TradingBeats said the address’s average long entry price was $2,340.86, leaving the remaining position with an unrealized gain of around $1.83 million. The monitoring update also noted that the wallet had received funds multiple times from Matrixport, now renamed BIT. It is currently tracked as the largest on-chain ETH long address, while two other related wallets were said to have built positions alongside it, with this wallet described as the primary address.
According to TradingBeats, the largest on-chain Ethereum long address has begun taking profit. The wallet, identified as a BIT-linked address, reduced its holdings by 14,000 ETH about five minutes before the monitoring update, with the sale valued at roughly $34.15 million.
After the reduction, the address still held a position worth about $25.24 million. TradingBeats said the average long entry price was $2,340.86, leaving the remaining position with an unrealized profit of around $1.83 million.
Wallet linkage and funding history
The monitoring data said the address had received fund transfers from Matrixport, now renamed BIT, on multiple occasions. It is currently tracked as the largest on-chain ETH long address. TradingBeats also said two other related addresses built positions in coordination with it, with this wallet serving as the primary address.
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