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An unidentified Ethereum wallet pulled off a sharp sell-and-rebuy cycle. On-chain analytics platform Lookonchain described it as an &quot;Ethereum OG&quot; wallet. It sold 60,000 ETH at roughly $2,040 each. Then it bought back 35,723 ETH at around $1,563. That&#x27;s a 23% price improvement between exit and re-entry.
<a href="https://x.com/lookonchain/status/2063797166070796795" target="_blank" rel="noopener">Lookonchain</a> tracked the rebuy at approximately $55.8 million over two days. The original 60,000 ETH sale at $2,040 generated gross proceeds near $122 million. Bitcoin.com News and BanklessTimes both pegged the full round-trip at roughly $188 million. Neither outlet explained the exact methodology behind that number.
The on-chain community noticed immediately. Signal aggregator LunarCrush tracked 66,583 interactions on the Lookonchain post covering this wallet. It was the highest-engagement post in the Base Ecosystem category that day. ETH was up 4.2% the same day the story broke. Blended sentiment sat at 82%, per LunarCrush.
The raw numbers aren&#x27;t the whole story. The execution was precise. The $1,600 to $2,100 band has been contested territory for ETH through 2025 and into 2026. Macro uncertainty hit it. ETF flow shifts hit it. Risk-off conditions hit it repeatedly. Sophisticated on-chain actors watch exchange net flows, funding rates, options open interest, and large-wallet accumulation patterns. They use those signals to find inflection points inside ranges like this one.
Lookonchain cited three wallet addresses tied to the activity. All are publicly verifiable on-chain. The wallet holder&#x27;s identity is unknown. Lookonchain&#x27;s &quot;OG&quot; label typically refers to wallets with history dating to Ethereum&#x27;s early days or the 2017-2018 cycle. That characterization hasn&#x27;t been independently verified from on-chain age data.
Gate News reported the sell-down reached 60,000 ETH by early June. Smaller tranches went out across multiple days before the full position was exited.
The rebuy looks recent or still ongoing. Lookonchain&#x27;s feed showed 35,723 ETH as of June 7. It&#x27;s unclear if the wallet&#x27;s still accumulating toward its original position size. The on-chain analytics community&#x27;s watching closely.

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Ethereum Whale Sold Near Top, Bought Back 23% Cheaper

An Ethereum whale sold 60,000 ETH at $2,040, then rebought 35,723 ETH at $1,563—a 23% price improvement. On-chain data reveals the full $188M trade.