An anonymous wallet known as 0xB4d3 has sold 20,000 Ethereum tokens for approximately $41.18 million, executing the entire trade within about one hour on May 22. The average price was roughly $2,059 per ETH, with the token trading in a $2,000 to $2,200 range. On-chain analytics firm Lookonchain flagged the transaction.
Earlier this month, a wallet linked to Metalpha deposited about 8,771 ETH, worth around $20 million, to Binance. The pattern of large holders moving assets to exchanges often signals an intent to sell, adding to market unease.
The identity behind 0xB4d3 remains unknown, and it is unclear which exchange received the ETH. The rapid execution suggests either an over-the-counter desk facilitated the deal or the seller accepted slippage across public order books.
Ethereum has been range-bound, and these whale exits amplify selling pressure. Traders are now watching the $2,000 support level closely. Any further large deposits to exchanges could compound the bearish trend.