After three days of silence, 0x46DB is back on the tape.

Roughly two hours ago, the whale added 5,500 $ETH , deploying about $16.09 million in a fresh buy.

Zoom out and the pattern becomes clear.

Since December 3, this wallet has accumulated a massive 41,767 ETH, spending approximately $130.7 million at an average entry around $3,130. Price hasn’t been kind since then the position is currently showing an unrealized loss over of $8.3 million.

And yet, the buying continues. This isn’t reactive trading. It’s not chasing green candles or cutting exposure on drawdowns. It’s systematic accumulation, even while underwater, the kind of behavior you only see when the time horizon stretches far beyond daily volatility.

Three days of pause. Then another $16M deployed.

Whether this is a bet on #ETH ’s next leg, a treasury-style allocation, or part of a broader strategy, one thing is undeniable: this whale is choosing conviction over comfort.

Address:
0x46DB0650645f7c9a29783c89171a62240CCc35cF

Well we feel: Losses are temporary. Positions are intentional.