A lot of movement in dormant Ethereum (ETH) wallets has been seen lately as longtime holders take advantage of recent price spikes. First, Spot On Chain announced that two major Ethereum holders sold a total of 33,701 ETH, which is worth about $89.72 million. The sales happened just as the price of Ethereum went up 13.75% in the last 24 hours.
The first major transaction was made by someone who participated in the Ethereum ICO. They had the wallet ID “0xB8c” and transferred 25,000 ETH, which is worth about $65.67 million, to the Kraken exchange at a price of almost $2,627. After the transfer, this owner is left with 64,450 ETH, which is worth about $181.2 million.
Another major player, “0x0c1,” ended an 8.75 year hiatus by selling 8,701 ETH for 24.05 million USDC, or about $2,764 per ETH. This trade resulted in a 689-fold profit, leaving this holder with 2,304 ETH, worth $6.48 million.
Next, a third whale who had been dormant for almost nine years woke up with a wallet of 12,001 ETH, worth $34.1 million, and started selling on-chain. They got them for about $8.58 per ETH, and now they are worth 330 times what they cost.
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Lookonchain also reported on a whale holding 398,891 ETH, worth about $1.14 billion, which started selling in the last 24 hours after being dormant for over eight years. In the last six hours, 13,400 ETH worth $37.38 million were sold at an average price of $2,790. Lookonchain found that 28 wallets linked to this whale started buying ETH through the ShapeShift platform in January 2016, at an average cost of $3.5 per ETH.