According to on-chain data analysis, this Ethereum bull whale has accumulated over 12,136 ETH since March 2023, with a total investment of approximately $36.55 million, averaging around $3,012 per ETH. However, due to market fluctuations, the overall value of its holdings currently shows a paper loss of $3.32 million. Recently, the whale made further moves and purchased an additional 9,362 ETH at an average price level of $3,091 between March and May 2024, spending about $28.93 million in total. Four hours ago, the whale once again conducted a major transaction, converting 120 WBTC into 2,774 ETH, valued at approximately $7.6 million. The giant whale's significant portfolio realignment not only reflects its optimism about the future of the Ethereum market but also prompts investors to delve deeper into the current market trends and potential future directions.