2025-12-03 15:55:17

There's an address whose recent activity is quite interesting—their position was built in two waves.

Back at the end of September, when ETH was at $4,026, they made a move and bought 736 ETH, spending nearly $3 million. Then, in early December, when ETH dropped to around $2,988, they bought another 2,732 ETH, this time spending $8.16 million.

All in all, this person invested a total of $11.128 million and accumulated 3,468 ETH, with an average cost of $3,208 per ETH. Based on the current price? They're down about $420,000 on paper.

Are they averaging down their cost or truly optimistic about the market outlook? After buying at a high price, is this follow-up purchase an act of self-rescue or doubling down?

ETH6.25%

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metaverse_hermit

· 12-06 15:32

How strong must this guy's mentality be? Holding the bag at the top and still daring to keep averaging in... Either it's true conviction or he's just stuck and stubbornly holding on.

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ser_we_are_early

· 12-05 08:32

This guy is really bold, buying at the top and even daring to average down. Either he truly believes or he has a gambler's mentality.

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BlockchainDecoder

· 12-04 18:53

According to research, this strategy of building positions in batches is essentially a textbook mean reversion approach. Data shows that from 4026 down to 2988, there was a drop of about 26%, followed by a large-scale buy-in. From a technical perspective, it's clear that this person is executing a predetermined risk hedging plan. It's worth noting that the average cost of 3208 is already close to last year's support level. Don't just focus on the paper losses—these large investors typically operate on a logic that's three dimensions beyond that of retail investors.

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MainnetDelayedAgain

· 12-04 14:41

It's been more than 3 months since the first entry. The timing of this operation is a piece of art worth documenting. Averaging down after buying at the top... well, increasing the position under the guise of reducing the average cost. Still holding on with an unrealized loss of 420,000—either it's genuine conviction, or there's simply no other choice left.

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CoffeeNFTrader

· 12-03 16:25

This guy is really bold—he bought in at the top and still dares to double down. Either he truly believes, or he has a gambler's mentality.

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VibesOverCharts

· 12-03 16:24

Eh, this move... dumped 3 million at the high, then came back with 8.16 million at the low. It’s either real confidence or pure gambler mentality.

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zkNoob

· 12-03 16:24

Oh no, this move is a classic case of being stuck with a losing position and having to double down. It reeks of trying to average down the cost.

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ContractSurrender

· 12-03 16:17

I've seen too many tricks for averaging down costs. The key is, does this guy still have any ammo left?

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Ser_This_Is_A_Casino

· 12-03 16:04

Hmm... this move is basically a gambler's mentality. Buying more at the top—either they're truly optimistic or they're just stuck and trying to hold on.

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