Ethereum Whale Faces Potential $2.785M Loss After Large Deposit to Bybit

A large Ethereum holder known as on-chain whale address 0x907 deposited nearly $3.53 million in Ether (ETH) to Bybit, a major cryptocurrency exchange, roughly four hours ago.

This move suggests that the whale may be preparing to sell some of its holdings at a significant loss, considering it bought 6,000 ETH on January 20 for an average price of $3,178.78 per token.

The position is now down around 44% from the entry point, with the whale potentially facing a realized loss of approximately $2.785 million based on current market prices.