Ethereum Whale Opens 26,974 ETH Long Worth $63.88M After Dip Below $2,300, Lookonchain Reports
Key Takeaways
- •On-chain analytics firm Lookonchain identified Arthur Hayes, chief investment officer at Maelstrom, as opening a 26,974 ETH long position valued at $63.88 million after Ethereum's price dipped below $2,300 on October 25, 2026.
- •Within 24 hours, Lookonchain's tracking showed roughly $28.81 million in digital assets moved to exchanges for sale, including 8,000 ETH alongside ENA, UNI, and ETHFI.
- •The tracked activity also recorded the withdrawal of 14.15 units of an additional asset that the source report left unidentified.
- •Hayes co-founded the cryptocurrency derivatives exchange BitMEX and serves as chief investment officer at digital asset investment firm Maelstrom.
- •The cited tokens include ENA from the Ethena synthetic dollar protocol, UNI as Uniswap's governance token, and ETHFI as the native token of liquid restaking protocol ether.fi.
On October 25, 2026, on-chain analytics firm Lookonchain reported that a whale identified as Arthur Hayes, chief investment officer at Maelstrom, opened a long position of 26,974 ETH valued at $63.88 million, entering after the price of Ethereum (ETH) dipped below $2,300. Positions of that scale are routinely flagged by on-chain trackers because they can be verified directly from blockchain records, which is why whale entries of this kind draw close attention across crypto market coverage.
In a COINOTAG update published at 23:24 UTC the same day, Lookonchain's tracking showed that Hayes moved roughly $28.81 million in digital assets to exchanges for sale within 24 hours. The assets included 8,000 ETH alongside ENA, UNI and ETHFI. The update also recorded the withdrawal of 14.15 of an additional asset, with the source text ending mid-sentence at that figure and leaving the token unidentified. Read together, the data points describe a new directional long alongside sizable exchange deposits, the type of wallet activity on-chain analysts routinely highlight, even though transfers alone document movements rather than intent.
Hayes co-founded the cryptocurrency derivatives exchange BitMEX and serves as chief investment officer at Maelstrom, a digital asset investment firm, and he is one of the most widely followed commentators in crypto. Among the tokens cited in the report, ENA is the native token of the Ethena synthetic dollar protocol, UNI is the governance token of decentralized exchange Uniswap, and ETHFI is the native token of liquid restaking protocol ether.fi.
Ethereum is the second-largest cryptocurrency by market capitalization. On-chain analytics platforms such as Lookonchain monitor large wallet transfers to exchanges, and their figures are widely followed as gauges of whale activity, though they reflect on-chain behavior rather than the reasoning behind it. Subsequent changes to the position's size, or additional transfers involving the wallet, would be visible in on-chain data as they occur.
This report was first published on COINOTAG: https://en.coinotag.com/ethereum-whale-26974-eth-long-63-88m
