A Five-Year Dormant Ethereum Whale Resurfaces
A mysterious address that has held over 100,000 ETH since 2019 has suddenly reactivated, sparking intense scrutiny across the crypto analytics community. After years of inactivity, the wallet transferred more than 40,251 ETH—worth approximately $124 million—to centralized exchanges within just 24 hours, signaling a major shift in on-chain behavior.
Low-Cost Position Yields Massive Realized Gains
The entity originally accumulated its holdings through major trading platforms at an average cost of just $660 per ETH. As ether's price appreciated over time, so did its unrealized profits. To date, it has moved a total of 75,200 ETH to exchanges, realizing an average price of $3,383 and locking in roughly $204.9 million in net gains.
Staggered Moves Suggest Strategic Exit Plan
The transfer was executed in phases rather than a single bulk transaction. Notably, 26,000 ETH—valued at around $80.16 million—were sent within the last hour alone. This incremental approach likely aims to minimize market impact and avoid triggering sharp sell-offs.
Remaining Holdings Could Influence Market Dynamics
- Still holds approximately 26,000 ETH, valued over $80 million
- Over 74% of original position already cashed out
- Remaining balance may affect short-term liquidity if further withdrawals occur
While a significant portion of the portfolio has been liquidated, the remaining balance ensures this address retains substantial market influence. Its next moves could serve as a key indicator for broader investor sentiment in the current cycle.