A whale has awakened: 27,585 ETH sold after seven years of inactivity
Last week, one of the most notable movements in the Ethereum market was recorded: address 0x0965, which had been inactive since 2018, realized 27,585 ETH worth approximately $44.84 million. The sale was carried out over two days, with an average closing price of $1,625 per coin.
This is a classic example of a "sleeping whale" — a long-term investor who entered the asset at an early stage and waited until the market, in their opinion, reached a comfortable point for profit-taking. According to my estimates, the holder's total profit exceeded $39 million, which is a solid result even under current market conditions.
Interestingly, at the peak of the cycle, the unrealized profit on these positions exceeded $130 million. However, the whale decided not to wait for a possible return to historical highs, but to lock in profits while ETH is trading near key support levels. This may indicate a decline in confidence in the short-term bullish scenario for Ethereum.
Such movements are a strong signal for the market. When long-term holders start exiting, it often precedes a local correction or consolidation. However, in this case, the sale volume relative to the daily turnover of ETH is not critical, so I do not expect a sharp crash. Rather, it is a reminder that old positions can still exert pressure on the market when liquidity and sentiment change.
My analysis: The sale of 27,585 ETH after seven years of inactivity is not panic, but a rational decision. The whale chose a moment when the market is showing relative stability and locked in profits that are several times the initial investment. For short-term traders, this may be a signal for caution, but for a long-term view of Ethereum, it is just one of many episodes of redistribution of old holdings.