A prominent Ethereum whale, dormant for over three months, has made a significant return to the market with a high-value, strategic move. This anonymous entity, identified by the address "0x761F2F," executed a calculated transfer that has caught the attention of on-chain analysts, signaling a potential long-term play in the ETH ecosystem.
A Whale's High-Stakes Return
The whale initiated its comeback by withdrawing a substantial 5,099 ETH, valued at approximately $15.17 million, from the major U.S. exchange Kraken. Demonstrating a clear and immediate strategy, the entire amount was swiftly funneled into Lido, a leading liquid staking protocol. This rapid conversion into 5.1K stETH (staked ETH) indicates a direct shift from centralized exchange liquidity to a staking position, revealing a major long-term conviction rather than short-term trading.
Strategic Timing and Market Signal
The timing of this large-scale staking operation is particularly noteworthy, occurring when Ethereum was trading near its local support zone of $2,939. This specific price point has historically acted as a psychological barrier, suggesting the whale either views the current market weakness as an optimal buying opportunity or anticipates significant upside within the staking economy. Such a decisive move from a major player could act as a strong signal, potentially influencing other investors and driving fresh inflows into Lido and the broader liquid staking sector in the coming weeks.
