TLDR
- Four dormant Ethereum wallets sold 33,623 ETH after about eight years.
- The wallets received 37,602 ETH in 2018 at about $830 per coin.
- The ETH sale generated about $52.5M in proceeds, analysts said.
- Lookonchain estimated the wallets realized about $27.4M in profit.
- Traders are watching Ethereum’s $1,500 level as a key support area.
Four long-dormant Ethereum wallets have sold most of their ETH holdings after roughly eight years of inactivity, according to onchain analysts, locking in an estimated $27.4 million profit while Ethereum trades near a key support area.
The wallets received 37,602 ETH in 2018 at an estimated average price of about $830 per coin. Onchain data flagged by Lookonchain showed the wallets sold 33,623 ETH over roughly four hours at around $1,560 per coin, generating about $52.5 million in proceeds.
The sale drew attention because the wallets did not exit during earlier cycle peaks, when their unrealized profit reportedly exceeded $150 million. Ethereum reached about $4,946 in August 2025 before later falling toward current levels near $1,500 to $1,560.
Dormant Ethereum Wallets Move After Eight Years
The four wallets identified by analysts had remained inactive for years before moving their holdings. The addresses were listed as 0x71B…D412f, 0x92a…ae49D, 0x6C7…5C327, and 0xffd…5BeE5.
The sale adds to a recent pattern of older Ethereum wallets becoming active during weaker market conditions. In March, an early Ethereum holder reportedly sold about $31 million worth of ETH after holding for nearly a decade. In April, an ICO-era participant moved 10,000 ETH, worth about $23 million at the time, to a new address after more than 10 years of dormancy.
Large movements from older wallets are closely watched because they can affect short-term market sentiment. Such sales do not always indicate broader holder behavior, but they often attract attention when they occur near key support levels or during declining price trends.
Ethereum was trading below the level reached during previous bull market peaks, with market participants monitoring whether long-term holders would continue selling into weakness or whether buyers would absorb the supply.
Traders Focus on Ethereum’s $1,500 Level
The ETH price is being watched near the $1,500 level, which some analysts view as an important support area. Crypto analyst Ardi said Ethereum should avoid closing below $1,500 over the next several months because the level has held during major pullbacks since the 2022 bear market ended.
A sustained break below that level could weaken the current market structure for Ethereum and force traders to reassess short-term price expectations. For now, buyers are attempting to keep ETH above the area while the market waits for stronger demand.
Source: X
The whale sale has increased focus on whether Ethereum can maintain support despite broader weakness. Selling by long-dormant wallets can add pressure when liquidity is thin or when traders are already cautious.
At the same time, the wallets still realized a profit based on their estimated acquisition price. According to Lookonchain’s estimate, the group secured about $27.4 million in profit despite selling at a price far below previous unrealized peak values.
Ethereum Upgrades Remain in Market Focus
The sale came as Ethereum developers continued work on upgrades aimed at improving movement between Layer 1 and Layer 2 networks. Ethereum co-founder Joseph Lubin said the network is moving closer to changes that would allow different Ethereum environments to work together more efficiently through zero-knowledge proofs.
The proposed changes are expected to make token transfers faster across Ethereum networks and reduce reliance on traditional blockchain bridges. Bridges have often been used to move assets between chains, but they have also been linked to security failures across the crypto sector.
Lubin said improved network design could make liquidity easier to access across the Ethereum ecosystem. More connected liquidity may reduce the number of steps users need to complete transactions across different Ethereum-based networks.
He also said higher network activity could increase ETH burning under Ethereum’s fee mechanism. Banks, financial firms, decentralized finance projects, and AI-related services were listed among the potential users of a faster and more connected Ethereum network.
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