An address flagged by onchain analysts as an Ethereum OG has returned to buying after a major exit near the $2,040 level. Lookonchain data show the wallet spent $55.8 million over two days to purchase 35,723 ETH at an average price of $1,563, flipping from aggressive seller to active accumulator in less than a week. The earlier sale totaled 60,000 ETH plus 9,442 wrapped staked ETH (wstETH), liquidated for $141.25 million while Ethereum was still trading above $2,000. With ETH sliding in the days that followed, the same entity has now redeployed capital at a notably lower level. Reentering at $1,563 implies roughly a 23% discount versus the prior sell zone, underscoring a tactical approach to timing. The 35,723 ETH buyback amounts to about half of the original ETH position by token count, but only around 39% by dollar value given the larger size and higher pricing of the initial exit. Lookonchain noted the wallet still holds stablecoins, leaving room to accumulate further. The partial repurchase also leaves strategy open to interpretation: the whale may be scaling back in cautiously, or preparing to add exposure only if price action supports a bottoming process. Notably, the original disposal included both spot ETH and wstETH, suggesting the holder had been earning staking yield prior to exiting. The shift back into spot-only ETH points to a preference for liquidity and flexibility in the current environment. Large onchain trades rarely determine market direction on their own, but they offer insight into how experienced capital is positioning after sharp drawdowns. For now, this wallet's fast redeployment adds to the view that the $1,500 area is attracting demand from participants who previously sold into the local top. Ethereum's fundamentals have remained resilient through the pullback. Developer activity continues to run high, with Ethereum consistently ranking first in weekly developer activity tables, a backdrop that often supports long-term conviction during periods of volatility.

On-chain monitoring indicates that wallet 0x709…Cad6e has reopened its position after a six-month hiatus. About 14 hours ago, the address posted 10,600 ETH as collateral to borrow 16 million USDS and bought 14,700 wstETH at an average price of \u0022$2,028\u0022. It later borrowed another 14 million USDS to further scale up the position. (Ai Yi)

Odaily Planet Daily reports that on-chain analyst Aunt Ai said a wallet returned after a six-month absence to rebuild a leveraged ETH position. About 14 hours ago, the address pledged 10,570 ETH to borrow 16 million USDS, then bought 14,730.36 wstETH at an average price of $2,028. It later borrowed another 14 million USDS to add to the position.

Arthur Hayes said Hyperliquid has surged to the top tier of the onchain perpetuals market over the past two years, but warned the edge may prove difficult to sustain as real-world asset (RWA) derivatives draw increasing attention, according to CoinDesk. Hayes argued that a key driver of the platform's recent momentum has been demand for weekend trading in traditional assets such as crude oil, where liquidity can be thinner and price swings pronounced. He said the activity has pushed more traders to revisit how effectively crypto-native venues can contribute to price discovery. Following an upgrade in October 2025, Hyperliquid began offering derivatives linked to RWAs including gold and silver. The platform said this week that total open interest across these RWA-linked markets has reached $3 billion. CoinDesk also highlighted Hyperliquid's buyback-and-burn design, which uses trading fee revenue to repurchase HYPE tokens on the open market and permanently remove a portion from circulation. Hayes said the mechanism supports scarcity but could come under strain if trading volumes drop sharply. Data from a Dune dashboard show Hyperliquid has repurchased a combined 26.6 million HYPE tokens and burned about 579,600. At current prices, the repurchases are estimated at roughly $1.56 billion. Hayes, previously a vocal supporter of HYPE when it set fresh highs, said on social media the day after the interview that he had sold his entire position. HYPE is trading around $59, down about 14% over the past seven days, after peaking above $75 last week. He added that major U.S. exchanges are accelerating efforts to enter the perpetual futures arena. Perpetual contracts have no expiry, allowing positions to be held indefinitely, with funding rates designed to keep prices aligned with the spot market. Hayes expects that within the next year, traditional finance could roll out more liquid counterparts that compete head-on with onchain perpetuals platforms.

BlockBeats reported on June 8 that on-chain analyst Aunt Ai (@ai_9684xtpa) flagged a whale wallet, 0x709…Cad6e, returning to activity after six months on the sidelines. About 14 hours ago, the address deposited 10,570 ETH to borrow 16 million USDS, then bought 14,730.36 wstETH at an average price of $2,028. It later borrowed another 14 million USDS to scale up the position.

June 8 — Onchain analyst Aunt Ai (@ai_9684xtpa) reported that wallet 0xB4d…B186a purchased 158.57 WBTC (about $10 million) and 31,065.58 ETH (about $49.85 million) through Cowswap over the past 24 hours. The average entry prices were $63,060.32 per WBTC and $1,604.70 per ETH. The wallet still holds more than $70 million in onchain stablecoins, leaving room for further position building.

Ethereum's key momentum gauge has fallen to levels never seen before. The Relative Strength Index (RSI), a widely used indicator for identifying overbought and oversold conditions, has posted the lowest readings in ETH's trading history. On June 6, Ethereum's daily RSI printed between 17 and 25. In technical analysis, readings below 30 are typically viewed as oversold, while sub-20 levels are uncommon and often associated with acute market stress. Coin Bureau data also shows the monthly RSI sliding to historic lows, signaling that the weakness is not confined to short-term trading. Spot prices in early June have ranged from about $1,569 to $1,778, far below Ethereum's August 2025 peak near $4,946. That puts ETH roughly 64% off its high. At the time of the reading, Ethereum's market capitalization stood near $190B. On-chain exchange data points in the same direction. Ethereum balances held on exchanges have fallen to around 14.8 million ETH, the lowest level since 2016. Past cycles show that extreme oversold conditions can coincide with major turning points. In early 2024, ETH bottomed near $2,150 during similarly depressed momentum readings and later climbed to nearly $4,000, an advance of roughly 86%. Late 2022's FTX-driven selloff also produced deeply oversold signals that ultimately aligned with a generational low across several crypto assets. During the March 2020 COVID shock, ETH briefly slipped below $100 before a multi-year rally that eventually carried it above $4,800. For long-horizon investors, the combination of a 64% drawdown from the peak, record-low RSI, and decade-low exchange balances creates a setup that has historically favored patient capital. In prior cases where RSI reached similarly extreme levels, prices later traded materially above the oversold lows. Traders looking for evidence of a reversal often watch for the daily RSI to reclaim and hold the 30 level, for exchange balances to stabilize or continue falling, and for buying interest to show up through stronger volume on up days rather than down days.

Shiba Inu futures traders saw a sharp shakeout, led by long positions. More than $382,000 in SHIB futures were liquidated in a single day, with $365,660 coming from bullish bets and $17,320 from shorts. The liquidations coincided with the sudden reactivation of a SHIB wallet that had been inactive for nearly 10 months, drawing attention as the token remained under pressure. Arkham Intelligence data shows the address first sent a small test transfer of 10 million SHIB via a MetaMask swap. It then moved almost 400 billion SHIB through BitGo's Forwarder Smart Contract in three transactions: about 112 billion, nearly 190 billion, and a final 99 billion. After the transfers, the wallet balance fell to just 110 SHIB. Total outflow: 399,989,999,938 SHIB. The address had been idle since roughly last August and was effectively emptied within hours. The intent of the BitGo-linked transfers is unclear. BitGo infrastructure is frequently used by institutional clients for OTC settlement or moving assets into cold storage—flows that don't necessarily appear as exchange selling. The size of the move stands out, but it does not confirm tokens were sold on the open market. SHIB has slid 16% over the past week, breaking below the $0.000005 psychological level. It was last trading at $0.000004535, down 3.50% over the prior 24 hours. The decline has pushed the memecoin closer to the edge of the top 30 by market cap, with SHIB ranked 29th at about $2.65 billion. The whale's return, alongside a broader crypto downturn and another round of liquidations, kept the transfers in focus even as their purpose remains unknown. Featured image from Unsplash, chart from TradingView

CoinDesk reported that APT has remained under heavy pressure over the past week, with the token down more than 30% and briefly touching $0.61, marking a new all-time low. While price action has weakened, transaction counts on the Aptos network have continued to climb. At the same time, active participation has fallen sharply, prompting renewed scrutiny over how much of the activity reflects real user demand. The report highlighted a widening gap between throughput and engagement. Over the last 180 days, Aptos processed more than 1.7 billion transactions. Daily transaction volume has accelerated from roughly 5–7 million at the start of the year to about 15–19 million recently. User engagement indicators tell a different story: daily active addresses have dropped from above 1 million earlier this year to 68,800, suggesting transaction growth has not been matched by broad-based user expansion. Markets appear to be weighing the decline in user participation more heavily than the jump in transactions. The report noted that fewer users generating more transactions can point to activity concentrated in a limited number of applications, a small cohort of users, or automated programs rather than organic growth. That dynamic also helps explain why stronger on-chain transaction data has not translated into better price performance. After key support levels gave way, selling pressure intensified. Trading volume rose alongside the decline, indicating the move was more consistent with active selling than liquidity-driven volatility. The article flagged $0.82 as a key near-term level. With APT breaking below the area around $0.82, market structure has deteriorated. Until the token regains that level, bears remain in control and price is trading without clear support. If buying fails to return, attention may shift to $0.60, with a potential test of the $0.50 area if risk appetite weakens further. If APT can reclaim $0.82, sentiment could stabilize and open the door to a rebound toward the $0.95–$1.15 range.