A large entity is once again accumulating assets amid the current market movement. A whale with the wallet address 0x2684 purchased 7,919.5 ETH worth $14.89 million on August 2, 2026. This multi-million dollar transaction was not a sudden move, but rather a continuation of a buying streak that has been ongoing for exactly a month.
Tracking data from on-chain analytics account @lookonchain shows that this anonymous entity has been continuously accumulating assets since June 30. At the time of writing, the wallet is recorded to hold 74,265 ETH worth $131.5 million, with an average purchase price of $1,771 per coin. The whale’s investment appetite is not limited to Ethereum. The same entity also collected 1,050 WBTC or Wrapped Bitcoin worth $67.49 million, with an average entry price of $64,277. Combined, the total capital injected into these two crypto assets reached $199 million in just a four-week span.
Two Opposite Directions in the Market
The maneuvers of wallet address 0x2684 create a sharp contrast with the actions of other veteran players. While this anonymous entity continues to absorb asset supply from the open market, BitMEX founder Arthur Hayes took the opposite route. Hayes was recorded dumping 2,364 ETH from his wallet and closing his position at a loss of $241,000. These two opposing moves at the same time highlight a clear difference in how big money views and reads price trends.
For on-chain analysts, a streak of purchases by a single entity in such a large volume is seen as a bullish signal. The report from Lookonchain as the whale tracking source immediately caught the audience’s attention, as evidenced by their tweet receiving 362 likes and 33 retweets. This activity coincided with the performance of the coin on exchanges. According to Google News data citing a report from tradingkey.com, the price of ETH rose 2.27% in trading on August 2, 2026, a movement correlating with this whale’s buying action.
What We Do Not Know Yet
All details of these transactions were obtained purely from tracking on-chain fund movements. As of today, the true identity behind address 0x2684 has not been publicly revealed. It remains uncertain whether this maneuver represents long-term accumulation by an institutional investment manager, or simply a large transfer of operational funds between exchange wallets.
One thing is certain: while some prominent crypto figures choose to exit the market to cut their losses, the influx of $199 million in capital provides a concrete price cushion. Transaction trails on the blockchain network never lie about where money flows, and this anonymous whale is preparing for the next wave.
Reported by @lookonchain on X.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.