Someone just hit the eject button on a very large Ethereum position. An anonymous wallet identified as 0xB4d3 sold 20,000 ETH for approximately $41.18 million on May 22, moving the entire stack in roughly one hour.
That works out to an average price of about $2,059 per ETH, executed while the token was trading in a $2,000 to $2,200 range. On-chain analytics firm Lookonchain flagged the transaction.
A pattern of whale exits
Earlier this month, on May 8, a wallet linked to Metalpha deposited approximately 8,771 ETH, valued at around $20 million, to Binance. When whales move tokens to exchanges, it typically signals intent to sell.
The concentration of selling at this scale matters more than the dollar amount might suggest. Twenty thousand ETH represents a meaningful chunk of liquidity on most order books. When that volume hits the market in a compressed timeframe, it can create cascading effects on price.
