A dormant Ethereum whale has awakened: selling 27,585 ETH for $44.84 million.
After seven years of complete inactivity, the cryptocurrency address 0x0965 suddenly became active and liquidated a significant portfolio of ether. Over two days, 27,585 ETH worth $44.84 million were sold. The average selling price was $1,625 per coin.
This case represents a classic example of "sleeping whale" behavior — an early investor or miner who had not made transactions for a long time and then decided to lock in profits. Given that the funds had not been moved since 2017, the wallet owner likely acquired ETH at a price significantly lower than the current one.
By my estimates, the net profit from this transaction exceeds $39 million. However, it is worth noting that at the peak of the market cycle, the unrealized profit on these assets reached an astronomical $130 million. This suggests that the whale had to sacrifice a significant portion of potential income to achieve liquidity.
Such actions by large holders often serve as an indicator of market sentiment. Selling after long-term holding may signal that the holder considers current levels attractive enough to lock in profits, or fears a correction. In any case, this event adds pressure to the ETH market, as the $44.84 million volume is not absorbed by order books instantly.
Expert commentary: The awakening of ancient whales is always an important signal. Although a single sale cannot crash the market, it highlights that even the most patient investors begin to exit when the price seems fair to them. Traders should pay closer attention to the activity of old addresses in the coming weeks.