A large crypto wallet that recently took a sharp loss on Ethereum has restructured its holdings, moving away from volatile tokens and increasing exposure to stablecoins and tokenized gold, according to on-chain tracking data. The address drew attention after an aggressive Ethereum purchase late last year went wrong. Between November 3 and November 7, 2025, the wallet spent about $110 million to acquire 31,005 ETH at an average price of $3,581. As prices slid, the position was unwound.
Nearly the entire holding was sold for roughly $92.19 million, locking in a loss close to $18 million within two weeks. At current prices near $3,020, that same Ethereum stack would now be valued at around $93.6 million. Based on reports from blockchain monitoring platforms, the sell-off marked a clear change in behavior. The wallet, once heavily tied to Ethereum, no longer holds a large directional bet on the asset.
Instead, balances have been spread across cash-like tokens and commodities. The move reflects caution rather than an attempt to quickly recover losses. An unknown whale, who lost $18.8M on ETH in just 2 weeks, has abandoned ETH and rotated into gold. The whale has spent $14.58M to buy 3,299 XAUT at $4,421 over the past 7 hours.
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