TLDR
Four dormant Ethereum wallets were reactivated after nearly eight years of inactivity.
The wallets originally received 37,602 ETH in 2018 at about $830 per coin.
They sold 33,623 ETH within four hours at an average price of $1,560.
Total proceeds from the sales reached approximately $52.5 million.
The transactions resulted in an estimated realized profit of $27.4 million.
Four early Ethereum holders moved large balances after years of inactivity and sold into a weak market. Onchain data shows the wallets secured about $27.4 million in profit despite earlier higher valuations. The transactions occurred within hours and reduced long-held positions that once carried much larger unrealized gains.
Ethereum wallets unlock after long dormancy
Four Ethereum wallets were activated after nearly eight years of inactivity and began transferring funds to exchanges. The wallets originally received 37,602 ETH in 2018 at an average price near $830 per coin.
Onchain analysts from Lookonchain tracked the movement and confirmed that the wallets sold 33,623 ETH. The transactions occurred over about four hours at an average price of $1,560 per coin.
The total proceeds reached approximately $52.5 million based on Arkham data shared by analysts. After accounting for entry prices, the wallets secured about $27.4 million in realized profit.
The addresses involved include 0x71B…D412f, 0x92a…ae49D, 0x6C7…5C327, and 0xffd…5BeE5. Each wallet remained inactive since the initial accumulation period during the 2018 market cycle.
Analysts stated, “The wallets stayed dormant for years before executing large sales within a short timeframe.” The movement aligns with recent activity trends seen among long-term Ethereum holders.
Profit realized below historical peak levels
The sale occurred during a deep market drawdown, which reduced the final realized profit for these holders. Data shows the wallets held unrealized gains exceeding $150 million during previous bull cycles.
Ethereum reached an all-time high near $4,946 in August 2025, which marked the peak valuation for these holdings. At that level, the wallets carried profits more than five times higher than current realized amounts.
However, the market later declined and pushed Ethereum below $1,560 during the recent selling window. This price level influenced the timing and outcome of the transactions recorded on Friday.
The gap between peak value and realized profit reflects missed opportunities during earlier market highs. Analysts confirmed that the wallets did not distribute funds during the 2021 or 2025 bull runs.
The recent activity adds to a pattern of older Ethereum holders exiting positions after long holding periods. Earlier cases show similar behavior from wallets that remained inactive for nearly a decade.
In March, another early holder sold about $31 million worth of Ethereum through a centralized exchange. In April, an ICO participant transferred 10,000 ETH valued at roughly $23 million after years of inactivity.
