Ancient ETH whale awakens: sale of 27,585 coins yields $44.8 million
The Ethereum market witnessed a landmark event: a wallet that had been dormant for over seven years suddenly activated and liquidated a large position. Address 0x0965, which had held 27,585 ETH since 2018, fully exited the asset over the past two days, selling the coins for $44.84 million.
The average sale price was $1,625 per ETH. Given that the purchase price of Ether in 2018 was at significantly lower levels, the holder's profit exceeded $39 million. Notably, at the historical peak of ETH's value, the unrealized profit on this portfolio reached an astronomical $130 million.
Such movements by "sleeping" whales always attract close market attention. They indicate that long-term holders, who have weathered multiple cycles, have finally decided to lock in profits. From a fundamental perspective, this could signal a shift in sentiment among the "old guard" of investors, who likely see current price levels as attractive for an exit.
The liquidation of such a large position in a short period inevitably creates short-term pressure on ETH's price. However, for long-term analysis, the very fact of the "ancient" wallet awakening is more important. It serves as a reminder that significant volumes of coins bought at the cycle bottom still remain on the market, and their gradual distribution could become one of the key factors in the coming months.
My analyst comment: Such transactions are a classic signal of "smart money," which does not hold assets forever. Taking profits after seven years of waiting is not panic but a planned strategy. The only question is whether other "mammoths" will follow this whale or whether the market will perceive it as a local incident.