The OG Whale Resumes Buying Ethereum Tokens After ETH Long $250 Million Loss Last Week, is ETH Market Rally Looming?

The OG whale, whose long position was completely wiped out and lost $250 million last week, appears to be buying Ethereum (ETH) again, according to a revelation disclosed today by market analyst Ash Crypto. Last week, a crypto trader commonly recognized as OG  suffered a massive $250 million loss after his ETH long position was liquidated due to ongoing Ethereum price declines.

The OG trader rose into fame after profiting $200 million by shorting Bitcoin and Ethereum a few minutes after President Trump’s traffic announcement caused a notable crypto market plunge on October 10, 2025.

Last Saturday, January 31, 2026, the OG trader recorded a loss of $250 million on the Hyperliquid trading platform following the liquidation of its ETH long position, leaving him with a balance of just $53 in this wallet.

Why The Whale Began Buying ETH

The OG trader appears to have resumed purchasing ETH, according to data from the analyst. Today, the large investor withdrew 80,000 ETH valued at $168 million from the Binance exchange, as per on-chain metrics shared by the analyst. This strategic move shows that the whale is capitalizing on the recent Ethereum price dips to accumulate huge amounts of ETH tokens at a discount.

A similar move was also noticed early this week from an OTC whale who bought 30,392 ETH worth $70.12 million three days ago, on Monday, February 2, 2026. Furthermore, on the same day, on-chain analyst Yujin spotted a whale, who had been dormant for five years, came to life on Monday, and consequently borrowed $70 million in USDT and continued to purchase  30,222 ETH at an average price of $2,316.

These ETH token acquisitions indicate contrasting strategies among big investors, with some embracing the selling of their assets while others take advantage of price declines to expand their holdings.

Will ETH Price Rebound?

Today, on Thursday, February 5, the ETH price currently trades at $2,133 after seeing a 5.4% decline over the past 24 hours. Its price has also been down 27.6% and 33.7% over the past week and month, respectively, showing a declining market trend triggered by macroeconomic uncertainty and extreme market fear. 

Wider crypto price volatility continues as geopolitical tension between Iran and the US prompted global investors to reduce their risk appetite on volatile assets (like virtual tokens) and pushed them to place funds on stable assets.

With heightened selling activities and an increased token supply, the Ether price is down. Despite that, Ethereum network activity remains strong, as the blockchain recorded 15.1 million new active addresses over the past 30 days, making it one of the crypto assets with growth potential.