Portfolios identified as ‘smart money’ executed a significant reduction in their Ethereum (ETH) exposure over a remarkably short timeframe.
Within less than an hour, these entities sold 6,913 ETH, valued at approximately $21 million at the time of the transaction. This disposal represented a striking 25-fold decrease in their active ETH long positions.
Despite this substantial sell-off, these large trader accounts maintain considerable exposure to Ethereum. Current holdings are reported at $71.33 million worth of ETH, alongside unrealized gains on these holdings estimated at $4.76 million. Portfolio performance over the preceding 24 hours shows a profit realization of $2.94 million.
The smart money cohort also holds long positions in tokens identified as HYPE and PUMP. Including profits from these holdings brings their cumulative realized gains to $23.47 million.
Analysts interpreting the move suggest the aggressive Ethereum position trimming could represent either strategic risk reduction amid current market fluctuations, a targeted profit-taking exercise, or a signal of cautious positioning ahead of potential market downturns.