The sleeping giant has awakened: an address with 27,585 ETH liquidated its position after seven years of silence.
One of the longest-term "whales" on the Ethereum network has finally awakened from its slumber. Address 0x0965, which had not conducted any transactions for over seven years, has completely dumped a colossal 27,585 ETH over the past two days. The total sale amount was $44.84 million, with an average selling price of $1,625 per coin.
This case is a classic example of an "ancient whale awakening." Such events always attract market attention, as they can signal a shift in sentiment among hodlers who have weathered several cycles. In this instance, the holder is not simply taking profits but is exiting the position entirely, hinting at a deep conviction in a trend change or a desire to diversify assets.
Profit Math: Millions in Pocket, Billions Missed
According to my calculations, based on blockchain data, the initial cost of these ETH was minimal — likely acquired during the early stages of the ICO or in the first years after the network's launch. The current sale has netted the owner a profit exceeding $39 million. However, it is worth noting that at the historical peak in November 2021, when Ethereum traded above $4,800, the unrealized profit on this package reached an astronomical $130 million.
Selling for $44.84 million at a price of $1,625 means the whale left over $85 million in potential profit on the table compared to the peak values. This is a typical dilemma for long-term holders: catching the top is nearly impossible, but locking in profits around $1,600 seems like a reasonable compromise given the current market uncertainty.
My analysis: Such large-scale movements rarely occur in isolation. Most likely, we will see increased selling pressure in the short term, especially at the $1,600–$1,650 level. For the market, this is a signal for caution, but not panic. One whale, even with 27,000 ETH, cannot reverse a trend, but it can create local "noise."