A big fish recently made a major move. This whale investor, who used a revolving loan to go long on ETH, took a full 13 days to completely clear out 50,600 ETH from the market. The last batch of 10,000 ETH was sold three hours ago, when the price was around $29.37 million.

The data is quite interesting. The whale's average cost was $2,545, but the average selling price reached $2,921. Throughout the entire liquidation cycle, he made a total profit of $19.02 million. Notably, he bought 20,000 ETH at a super low price of $1,740 during the bottom period at the end of April this year, which now looks like a quite substantial return.

What can we infer from this liquidation process? A major player with strong capacity completing such a large position shift in 13 days usually indicates a clear judgment about the market outlook. Whether it's profit-taking or strategic adjustment, this kind of whale behavior often provides some reference information for market participants.