An ancient whale has awakened: 27,585 ETH sold after seven years of hibernation
This week, the market witnessed a rare event: a wallet that had been inactive since 2017 suddenly activated and liquidated a large batch of ether. Address 0x0965 sold 27,585 ETH worth $44.84 million over two days. The average sale price was $1,625 per coin.
Profit and Opportunity Cost
The wallet owner's net profit from this transaction exceeded $39 million. However, it is worth noting that at Ethereum's historical peak, the unrealized profit on these assets reached $130 million. This means the whale locked in only a portion of the potential income, missing the opportunity to sell at the highs.
Such moves by large players, especially after prolonged inactivity, often draw heightened attention from market participants. The psychological aspect plays a key role here: investors begin to expect further sell-offs, which could amplify volatility.
My analysis: Selling 27,585 ETH after seven years of holding is not a panic liquidation but a calculated move. The wallet owner likely decided to diversify their portfolio or lock in profits amid the current market conditions. However, such volumes could exert short-term downward pressure on the price of ETH, especially if other "dormant" addresses follow suit.