Large ETH trader shifts into oil longs, analyst reports
On-chain analyst Ember reported that a large trader exited an ETH position with $8.99 million in profit and moved into $51.56 million of oil longs, showing $1.9 million in unrealized gains.
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On-chain analyst Ember reported on 2026-10-23 that a large trader had shifted from ETH into crude oil long positions, with unrealized gains of $1.9 million as oil prices rose about 4% that day.
According to Ember’s monitoring, the trader bought ETH at $1,647 and sold the position 3 days before the report, realizing $8.99 million in profit before moving the funds into oil.
The reported oil positions totaled $51.56 million: $30.78 million in CL crude oil contracts and $20.78 million in BRENTOIL contracts. The oil gains remained unrealized at the time of the report.
