Interesting phenomenon has emerged. According to on-chain analysis data, an active large holder address has recently resumed building a position in ETH.

Specifically, this address withdrew 1139 ETH from a major exchange 10 hours ago, when the price was $3,071.68 per ETH, totaling $3.5 million. This is not the first time — over the past two weeks, this account has made multiple moves.

What’s even more noteworthy is this address’s profit-making ability. From December 28, 2024, to January 6, 2025, it has already gained $807,000 in the ETH swing market. Now, it is increasing its holdings, which usually indicates the holder’s optimism about the future market.

The movements of such on-chain whales often reflect the true judgment of market participants, especially when they keep increasing their holdings, which often hides confidence in the market direction.