Dormant Ethereum Whale Sells 1,500 ETH for $3.86 Million

A long-dormant Ethereum address sold 1,500 ETH for $3.86 million USDT after nearly two years of inactivity, as tracked by Whale Alerts.

Whale Sale Overview

The dormant Ethereum whale , inactive for roughly 1.7 years, sold 1,500 ETH at an average price of $2,577 per coin. This transaction netted a realized profit of about $612,000. Whale Alerts, an on-chain tracker, first reported the sale.

“The whale involved in this event is a dormant Ethereum address that had not transacted for nearly 1.7 years before selling 1,500 ETH for $3.86 million USDT.” – Whale Alerts, On-chain Tracker

The sale gathered attention due to the whale’s long inactivity. Despite the sale of such a large amount of Ethereum, market prices remained stable within the $2,500 to $2,600 range. No official statements from Ethereum’s key figures or associated entities have been noted.

Market Impact and Speculation

Immediate market effects from the sale were minimal. Community speculates on potential short-term selling pressure if more ETH is sold. However, no significant impact on retail or institutional involvement has been observed.

The Ethereum market has previously experienced similar whale reactivations. On-chain data indicate other whales are accumulating Ethereum. Institutional investments remain strong, maintaining a bullish market outlook among major holders.

Market Insights

Insights on potential financial, regulatory, or technological outcomes are that while some market analysts warn of possible selling pressure, others suggest institutional accumulation signals confidence in Ethereum’s long-term stability and growth potential. Future whale activity could still impact market activity and sentiment.

In summary, the transaction was notable but not market-moving amid current volumes; Ethereum’s price remained in the $2,500 to $2,600 range.