2026-01-08 04:32:09

An interesting on-chain transfer has been caught. A whale address 0xFB78AA8F38843629e89951D9db6FdC398d75e0A3 recently made a big move — first closing a BTC long position with a loss of $3.7 million, then withdrawing all funds.

The whale then transferred $31.7 million USDC to Wintermute, and used the funds to buy 10,000 ETH. But this is not the end; it immediately exchanged all these ETH for stETH. More importantly, this address now holds 40,060 stETH, worth approximately $126.48 million.

From a BTC long liquidation to shifting into staking, this whale’s actions tell a pretty clear story — changes in market sentiment and fund flows can be inferred from these on-chain traces. For traders, such large transfers are often worth paying close attention to.

ETH0,42%

STETH0,23%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
8
Repost
Share

Comment

0/400

CryptoSourGrape

· 01-11 03:28

If only I had $3.7 million in principal losses, now I’ve actually bet correctly on stETH... If I could also admit my losses and switch so casually, I wouldn’t be stuck in a loss now.

View OriginalReply0

DegenTherapist

· 01-11 01:48

A liquidation of 3.7 million still dares to turn around and go all in on stETH. This mental toughness is truly exceptional. I can't learn this kind of boss aura.

View OriginalReply0

rekt_but_not_broke

· 01-08 22:38

Bro, is this move serious or just a gambler's mentality? After BTC liquidation, you still dare to go all-in on staking.

View OriginalReply0

Rekt_Recovery

· 01-08 05:02

lol this whale took a 3.7m L on btc then immediately yolo'd into steth... either they found god or they're just chasing the next thing to blow up their account with. been there fr fr. watching someone pivot from liquidation to 126m staking position hits different when you've lived through your own leverage hell story

Reply0

Layer2Arbitrageur

· 01-08 05:02

lmao this whale really said "fuck btc longs" and went all-in on the staking meta instead. smart pivot tbh, but did they even calculate the opportunity cost? 3.7m loss then immediately dumping 31.7m into steth... the slippage alone probably ate another 50-100bps. ngmi math fr

Reply0

ChainSauceMaster

· 01-08 05:01

A $3.7 million loss and still going all-in on staking—this whale's mentality is truly fearless.

View OriginalReply0

AirdropAutomaton

· 01-08 04:56

Oh wow, another smart whale. After closing a losing position, they immediately switch to staking. This move is indeed quite interesting.

View OriginalReply0

Token_Sherpa

· 01-08 04:43

smh, $3.7m loss then pivoting hard into staking... this is just another whale catching the lido narrative wave. sure, the on-chain breadcrumbs are there, but let's not pretend this tells us anything about "market sentiment" — dude's probably just chasing yield after getting rekt on btc longs. the steth trade itself screams reflexivity trap to me, ngl

Reply0