Long-Term Ethereum Holder Moves $27 Million Worth of ETH After 900 Days

A long-term Ethereum wallet sold $27.6 million worth of ETH after being inactive for over 900 days, causing a brief price dip before stabilising. Investors continue to trust Ethereum’s fundamentals despite the sale, focusing on ongoing innovations and effective transaction cost reductions. Social media reactions varied, but the event underscores the resilience and operational liquidity of Ethereum in the market.

Recently, a significant Ethereum wallet, dormant for over 900 days, transferred $27.6 million worth of ETH. Blockchain analytics revealed that this wallet had been accumulating Ethereum since its early days, even prior to its shift from proof-of-work to proof-of-stake. Long-term holding strategies are common among crypto whales, who often resist liquidating assets at peak profit. Additionally, many Ether investors focus on ERC-20 tokens, such as USDT, UNI, and SHIB, utilising secure wallets to manage these assets effectively.

The whale’s decision to liquidate appears motivated by the need to realise profits, as the ETH was sold in batches. This transaction did result in a brief drop in ETH prices before stabilisation. Such movements are noteworthy due to their impact on market liquidity and trader sentiment. Despite the sale, Ethereum retains deep liquidity, making it less susceptible to volatility that typically affects smaller altcoins.

On April 9, 2025, Ethereum reached a peak of $1,600 before retracing to $1,500 amid consistent trading. Analysts speculate this price fluctuation might relate to the whale’s liquidation strategy. Prior incidents show similar behaviour, including an earlier sale in 2023 of $22 million worth of ETH from another long-dormant wallet, which also resulted in a temporary price dip without major market disruption.

The crypto community responded rapidly on social media, discussing the implications of this sale. Many suggest it was simply a profit-taking action, but analysts point out that the whale refrained from selling when ETH surpassed $4,000. Nonetheless, the sale netted the owner a profit of approximately $2.75 million, while another whale concurrently acquired 24,817 ETH for $42.2 million.

Despite these fluctuations, investor confidence in Ethereum remains robust, bolstered by ongoing development and active projects in smart contracts, DeFi, and NFTs. Recent innovations like EIP-4844, or Proto-Danksharding, aim to significantly lower gas fees, with Layer 2 solutions like Optimism and Arbitrum contributing. These efforts drastically reduce fees, enhancing transaction speeds, which is beneficial for all investors, especially those managing large transactions.