A whale awakened after seven years of hibernation: selling 27,585 ETH brought in $44.8 million
A landmark event has occurred in the Ethereum market: an address that had been inactive since 2018 unexpectedly activated and sold a large batch of coins. Over the past two days, 27,585 ETH were sold from the wallet 0x0965 for a total of $44.84 million. The average sale price was $1,625 per coin.
This case is a classic example of long-term holding that yielded an impressive profit for its owner. By my estimates, the whale's net profit exceeded $39 million. However, it is worth noting that at the market peak, when Ethereum traded above $4,800, the unrealized profit on these assets reached an astronomical $130 million. The owner obviously did not lock in the maximum, but the current result can hardly be called a failure.
Such movements of "dormant" addresses always attract analysts' attention. They indicate that even the most patient investors sometimes decide to exit into fiat or reallocate capital. In this case, the sale occurred against a backdrop of relative stability in ETH, which may point to a deliberate decision by the owner to lock in profits rather than a panic sell-off.
My Analysis and Conclusions
Such transactions do not create immediate pressure on the market, but they signal a shift in sentiment among "old money." If we see the activation of other long-term wallets in the coming weeks, it could become a bearish signal. However, for now, this is an isolated case that rather highlights the market's maturity and Ethereum's ability to generate multi-million dollar profits for patient investors.