Anonymous whale sends $17.6M in ETH to Coinbase, likely at a loss

An anonymous Ethereum whale wallet beginning with 0x102 transferred 6,595.2 ETH worth about $17.57 million to U.S. crypto exchange Coinbase around three hours ago. Exchange deposits are typically interpreted as intended for selling. Of the total, 6,500 ETH appears to have been accumulated between June and August 2025 at an average entry price of $3,040.4. If the Coinbase transfer was intended for a sale, the whale is estimated to have realized a loss of about $2.443 million. According to CoinMarketCap, ETH was trading at $2,678.37, down 0.8%, at the time of writing.