Dormant Ethereum Whale Sells 27,585 ETH for $44.84 Million After Seven Years of Inactivity

A dormant Ethereum whale has awakened after seven years of inactivity and sold 27,585 ETH for approximately $44.84 million.

The wallet labeled 0x0965 on Lookonchain's analytics platform had been inactive since 2017, but recently came back to life and offloaded its stash at an average price of about $1,625 per token.

This sale marks a significant loss for the investor, who had reportedly held onto these tokens since Ethereum's all-time highs in 2022 when their unrealized gains exceeded $130 million.

The recent transaction has sparked interest among market participants, with crypto analyst Ali Charts highlighting the importance of maintaining the current high-volume price band between $1,584 and $1,683 for potential upward moves towards $1,980 and $2,079.