A whale awakened after a 7-year hibernation: selling 27,585 ETH brought in $44.8 million
The address 0x0965, which remained completely inactive for seven years, suddenly became active and executed a large sale. Over the past two days, 27,585 ETH were sold from this wallet, totaling $44.84 million. The average sale price was $1,625 per coin.
This case is a striking example of the so-called "whale awakening." Such movements of large volumes from long-term storage always attract market attention, as they may signal a shift in sentiment among major players. In this instance, the holder likely decided to lock in profits after a long waiting period.
The estimated profit from this transaction is impressive: the wallet owner's profit exceeded $39 million. However, it is worth noting that at Ethereum's historical peak, the unrealized profit on these assets reached over $130 million. This means the whale could have gained significantly more if they had sold earlier, but chose the current moment instead.
Such actions by large holders often exert short-term pressure on the price of ETH, especially if the sale occurs on the open market. However, in this case, the amount of $44.8 million, while significant, is not critical for the overall liquidity of Ethereum.
Expert comment: The awakening of "dormant" addresses is an indicator I always monitor. Seven years of inactivity is an exceptionally long time even by cryptocurrency standards. The $44 million sale was likely driven by a desire to lock in profits amid current market uncertainty, rather than panic. Nevertheless, the signal for the market is negative: if such whales start to exit, it could indicate an expectation of a correction or a trend change.