Key Takeaways:
Four Ethereum wallets that held 37,602 ETH since 2018 broke eight years of dormancy on Friday, selling 33,623 tokens at roughly $1,560 each and realizing about $27.4 million in profit during one of the deepest drawdowns of the current cycle, on-chain data shows.
"The wallets sold 33,623 ETH over roughly four hours at approximately $1,560 per coin, generating around $52.5 million in proceeds," Lookonchain analysts said, citing Arkham Intelligence data. The coins were originally received in 2018 at an estimated $830 per token.
The four addresses — 0x71B...D412f, 0x92a...ae49D, 0x6C7...5C327 and 0xffd...5BeE5 — had watched unrealized profits exceed $150 million during both the 2021 bull market and the August 2025 cycle peak near $4,946, according to The Block's ETH price page. The realized gain of $27.4 million represents less than one-fifth of that peak paper value.
The sale adds to a pattern of long-dormant Ethereum wallets waking into a falling market. An Ethereum OG sold $31 million worth of ETH in March after a decade-long hold, and an ICO-era participant moved 10,000 ETH in April after more than 10 years of dormancy. Ethereum traded near $1,580 on Friday, down 4.43% on the day, as a broader crypto rout pushed Bitcoin to $60,200 and triggered nearly $1 billion in futures liquidations across major tokens, per CoinDesk and Coinglass data.
The timing of the liquidation amplifies selling pressure on Ethereum during a period already defined by thinning liquidity and bearish positioning. With ETH trading well below its $2,000 max pain level ahead of Friday's $10.63 billion quarterly options expiry on Deribit, the emergence of supply from dormant whale wallets risks accelerating the downside if other ancient holders follow suit. The four wallets still hold roughly 3,979 ETH worth about $6.3 million at current prices, leaving room for further distribution.
This article is for informational purposes only and does not constitute investment advice.
