Large ETH Holder Appears to Cut Losses After Year-Long Position, Facing Estimated $2.44 Million Loss

On October 3, a large holder that built an ETH position a year ago was suspected of cutting losses, with an estimated loss of $2.44 million. According to BlockBeats On-chain Detection, the address 0x102…2e383 deposited 6,595.2 ETH to a CEX, or centralized exchange, three hours earlier.Of that amount, 6,500 ETH had been withdrawn during June to August 2025 at an average price of $3,040.4. The position at one point showed an unrealized loss of more than $9.56 million, and the holder ultimately exited after the assets shrank by 12.3%.