Whale Exits Ethereum After $18M Loss, Moves $14.5M Into Tokenized Gold

TLDR

• A crypto whale sold most of his Ethereum holdings after losing $18 million in two weeks.
• The whale purchased 31,005 ETH for $110 million in early November 2025.
• The Ethereum position was sold for $92.19 million during a market decline.
• The whale has now bought 3,299 XAUT using $14.58 million in USDT.
• This gold move follows a smaller XAUT purchase made by the whale on December 13.

A crypto whale who lost $18 million trading Ethereum has rotated to gold, reallocating millions in tokenized assets to hedge losses, as broader market risk-off behavior continues and traditional assets outperform digital ones.

Ethereum Exit After Failed Strategy

The crypto whale address “0xFdC” previously purchased 31,005 ETH between November 3 and 7, 2025. He spent $110 million on the Ethereum buys, paying an average price of $3,581. As the market dropped, the whale sold most of it for $92.19 million within two weeks.

This rapid selloff confirmed an $18 million realized loss and showed how quickly the bet unraveled. While the value of that Ethereum position has now recovered to $93.6 million, the damage was already done. ETH now trades near $3,020, still below the whale’s average entry.

The decision to liquidate followed the continued decline in the crypto market throughout late 2025. Ethereum fell by 11% last year, underperforming gold and silver. Traders watching the address saw this as a shift in sentiment.

Whale Buys $14.58M in Tether Gold (XAUT)

After exiting Ethereum, the same wallet moved to tokenized gold, acquiring Tether’s XAUT across multiple transactions on Friday. The whale spent $14.58 million in USDT to buy 3,299 XAUT. The average purchase price was around $4,421.

This marks the second gold allocation from the address, after an earlier XAUT purchase on December 13, 2025. While that buy was smaller, it set the stage for Friday’s larger rotation. The total XAUT balance now stands at 3,386 tokens, valued at $14.92 million.

The acquisition began at 05:59 UTC and continued in blocks, showing planned accumulation. The timing suggests the whale responded to recent market stress. Analysts have tracked the wallet’s pivot as a move into stable value.

Portfolio Now Holds USDT, USDC, and Gold

Following the Ethereum exit, the whale’s portfolio composition has shifted dramatically in recent weeks. It currently holds $58 million in USDT and $18 million in USDC. Combined with XAUT, the whale has moved mostly into lower-risk digital assets.

The portfolio formerly held over $90 million in Ethereum before the shift. This conservative allocation reflects growing hesitation toward volatile crypto bets. Observers note that other large wallets show similar behavior.

Crypto underperformed traditional assets in 2025, contrasting with earlier cycle expectations. Gold rose 65% and silver surged 147%, compared to crypto’s losses. Broader indexes like the S&P 500 and Nasdaq 100 also outpaced Ethereum and Bitcoin.

VanEck analysts still project a rebound for Bitcoin and a market turnaround in 2026. However, traders continue to reduce exposure to crypto during uncertain periods. On-chain data confirms that some whales are increasing exposure to alternative stores of value.

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