The post Ethereum Whale Loses $6.92M – Satofishi Moves 3,000 ETH to Binance as Market Pressure Mounts appeared on BitcoinEthereumNews.com.

The cryptocurrency market is seeing another round of major whale activity, as blockchain analytics company Nansen AI reported a significant move by well-known Ethereum investor Satofishi. The investor transferred a total of 3,000 ETH, valued at roughly $9.6 million, into the Binance exchange. The whale incurred an astonishing loss of $6.92 million in the transaction, which is particularly striking because only six weeks ago it purchased 6,947 ETH for a much larger basis cost of approximately $29 million. The Anatomy of a Costly Trade According to on-chain data, the wallet known as Satofishi made a large deposit on Binance after he held the position for approximately 1.5 months. The whale’s initial purchase was at an average price, which has become a huge increase over the current market prices. With ETH trading around $3,200 during the time the whale deposited these 3,000 ETH, this is a forced recognition of market reality that the whale encountered. After the deposit, Satofishi still has ETH in their wallet – 3,947 ETH in total, which is worth approximately $12.54 million and is also under water as if it is the original purchase price. The cost of an ETH was approximately $4175, which is significantly higher than the current levels. Mounting Sell Pressure from Major Players The Satofishi transaction is a result of increased sales from major Ethereum stakeholders. Binance and BlackRock offloaded approximately $1 billion worth of ETH in approximately ten hours, with several transactions involving more than 1,000 ETH that were sent to Wintermute, Bybit and other settlement accounts. These coordinated actions of institutional scale holders have created a challenging situation for Ethereum bulls. Binance acquired approximately 413,000 ETH ($1.4 billion) from major shareholders, which is the largest outflow since February. This equivocal data is indicative of the conflict between different types of investors…

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Filed under: News - @ November 17, 2025 3:25 pm