- Ethereum OG 0xbilly bought 7,769 ETH for $17.46M at an average price of $2,248 within three hours.
- A wallet withdrew 20,000 ETH worth about $44.83M from Coinbase during the same period.
- The OTC Whale moved 12,000 ETH to FalconX and deposited 330 cbBTC worth $24.37M to Coinbase.
Large Ethereum transactions recorded on blockchain trackers have drawn attention to activity linked to an early Ethereum participant known as 0xbilly. Data shows that a wallet associated with the figure recently acquired millions of dollars worth of Ether.
The purchase occurred while another large investor moved both ETH and cbBTC to exchanges. These actions took place during a period of active trading and close monitoring of large wallet movements in the Ethereum market.
Early Ethereum Participant Linked to Major ETH Purchase
Blockchain data indicates that a wallet linked to Ethereum community member 0xbilly recently acquired a large amount of ETH. The address identified as 0xf792 spent about $17.46 million to buy 7,769 ETH.
ETHEREUM OG JUST BOUGHT $17M ETH
Accounts connected to @0xbilly just bought $17.5M of ETH. 0xbilly is an Ethereum OG who was active in Ethereum’s formative years from 2014 onwards, and who was a frequent voice on Ethereum discussion threads and governance forums – but no-one has… pic.twitter.com/CSq2sYiDse
— Arkham (@arkham) March 16, 2026
The purchases occurred within a period of about three hours. The average acquisition price was around $2,248 per ETH according to on-chain records. 0xbilly is known in the Ethereum community for early activity during the network’s development period.
Public discussion records show that the account participated in Ethereum forums and governance discussions from 2014 onward. Despite the visibility of the username in early discussions, the identity behind the account remains unknown. Community members have often referred to 0xbilly as an early contributor who remained anonymous.
Large ETH Withdrawal Recorded From Coinbase
Blockchain trackers also reported another large Ethereum movement during the same period. A separate wallet withdrew about 20,000 ETH from Coinbase.
At current market prices, the withdrawn assets are valued at about $44.83 million. Large withdrawals from exchanges are often monitored because they can signal movement into private storage.
🕵️ One of the early developers of Ethereum, 0xbilly, is also buying #ETH. The wallet 0xf792, associated with 0xbilly, spent $17.46 million in the last 3 hours to purchase 7,769 #ETH at an average price of $2,248. Additionally, another wallet withdrew 20,000 #ETH ($44.83 million)… pic.twitter.com/SpkHpgStaA
— CryptOpus (@ImCryptOpus) March 16, 2026
These transfers typically move assets from trading platforms to external wallets. Market observers track these changes because exchange balances can affect liquidity.
The wallet involved in the withdrawal has not been publicly linked to a known entity. However, the transfer size placed the transaction among the largest ETH movements reported during the day.
OTC Whale Shifts Assets While Reducing Exposure
Another major Whale also carried out large transactions during the same period. The investor has previously been referred to as the “OTC Whale” by blockchain analysts.
Records show that the investor previously accumulated 163,405 ETH valued at about $440 million. The purchases occurred at an average price of around $2,691 per ETH.
The OTC Whale, who previously bought 163,405 $ETH($440M) at $2,691 and 4,000 $cbBTC($296M) at $74,004 has started selling $ETH and $cbBTC to cut losses again.
2 hours ago, he deposited 330 $cbBTC($24.37M) to #Coinbase and 12,000 $ETH($27.43M) to #FalconX.
The price of $cbBTC is… https://t.co/QRGyFNUG43 pic.twitter.com/AIYNOEnraz
— Lookonchain (@lookonchain) March 16, 2026
The same investor also purchased 4,000 cbBTC valued at about $296 million. The acquisition price for the cbBTC was about $74,004 per coin. Recent transactions suggest the investor is adjusting positions. Data shows deposits of 330 cbBTC worth about $24.37 million to Coinbase.
At the same time, the wallet transferred 12,000 ETH worth about $27.43 million to FalconX. Blockchain analysts say these transfers indicate potential asset sales.
Market Tracks Whale Movements and Price Levels
Current market data shows cbBTC trading close to the investor’s estimated break-even level. Ethereum, however, remains below the price where the large ETH purchases occurred. Because of this price gap, the ETH position linked to the OTC whale remains in a loss position.
Market participants continue to monitor the wallet’s movements for further transfers. Large wallet transactions often attract attention because they can influence market sentiment. Traders frequently track these transactions using blockchain monitoring tools.
The new ETH purchases linked to 0xbilly and the large exchange movements occurred within the same trading window. These combined transactions have placed renewed focus on Ethereum whale activity across major networks.
