Ethereum OG nets $34M profit flipping ETH and WBTC through…

An on-chain analyst flagged a veteran Ethereum wallet that executed a near-perfect market-timing trade across ETH, wstETH, and WBTC — booking an estimated $34 million in profit by selling before the crash and buying back at the lows.

Before the drawdown, the trader exited 60,000 ETH and 9,442 wstETH for a combined $141.25 million at an average ETH price of $2,040, and sold 600 WBTC for $47.12 million at an average of $78,538. After the crash, they reloaded: 611 WBTC at $63,280 average ($38.68M), and 60,088 ETH plus 10,000 wstETH at a $1,606 average ($116.38M combined). The round-trip cost roughly $155M to rebuild the position — against $188M in sale proceeds.

Why it matters

The scale and precision of the trade — executed across three wallets and two major assets — points to a sophisticated actor with either strong macro conviction or early access to risk signals. Selling $188M in blue-chip crypto exposure near local highs and rebuying within the same cycle is rare; most large wallets either hold through drawdowns or exit and stay out.

Market impact

The trade is a data point for ETH and WBTC sentiment: a long-term holder of this size chose to re-enter at $1,606 ETH and $63,280 BTC, effectively putting a floor signal on those levels. Traders watching on-chain flows will note that the wallet rebuilt its wstETH position 6% larger than the pre-crash size, suggesting continued conviction in Ethereum staking yield.