Dormant ETH Wallets Move 37,806 as Price Tests $1,500
Long-dormant Ethereum addresses moved 37,806 ETH as Ether traded just above $1,500 and long-term whale profitability fell below zero for the first time since 2019.
On-chain records show 37,806 ETH from long-dormant addresses became active after years of inactivity. Four wallets that received roughly 37,602 ETH about eight years ago at an average price near $830 sold approximately 33,623 ETH for about $52.5 million at roughly $1,560 per token, realizing near $27.4 million in gains.
The selling by these vintage wallets coincided with accumulation by other large holders. One whale exchanged 464 BTC, valued at about $27.6 million, for 17,750 ETH. An investor identified as Chun Wang acquired 9,937 ETH and 147 wrapped Bitcoin and has withdrawn nearly 87,000 ETH from an exchange over the past month at an average price near $1,749.
Institutional transfers were also recorded. A large asset manager moved 41,996 ETH and 4,577 BTC to a custody service, transfers that are commonly associated with custody arrangements or operational management rather than immediate market sales.
On-chain analysts report that long-term whale profitability has dropped below zero across major cohorts for the first time since 2019. Holders with balances ranging from 1,000 ETH to more than 100,000 ETH are showing unrealized losses, according to blockchain profit-ratio tracking.
Price action tested a key level during the activity. Ether fell to $1,510 during Thursday’s selling but did not establish a new yearly low while Bitcoin posted fresh 2026 lows. Market participants point to $1,500 as a longstanding support level; one trader argued that daily closes below $1,500 would challenge bullish assumptions built since the 2022 bear market. Another market participant warned a sustained break below that level could return Ether to a trading range last seen in early 2023.
Some traders identified lower ranges for accumulation. A popular trader highlighted $1,070 to $1,370 as a demand zone established in early 2023 and observed that a move into that band would breach Ether’s multi-year ascending trendline.
The transactions reflect both distribution from long-held addresses and continued accumulation by other large holders. The reactivation of dormant wallets released additional supply into a market trading well below prior peak prices.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
