Ethereum OGs Cash Out Amidst Crypto Market Selloff

Four dormant Ethereum wallets that had been inactive for eight years have finally sold their coins, dumping 33,623 ETH on the market. The sales generated approximately $52.46 million, a significant amount in today's crypto landscape. This comes as the overall crypto market is experiencing one of its sharpest weekly selloffs, with Bitcoin and Ethereum hitting fresh yearly lows.

Bitcoin plummeted to a new yearly low of $58,126, wiping out $150 billion from its market cap. Ethereum also dropped to $1,510, erasing $31 billion in value. Amidst this chaos, a new wallet has received 18,361 ETH and 152,986 HYPE from FalconX, indicating that whales are taking advantage of the dip.

The wallets in question originally received 37,602 ETH eight years ago at an average price of around $0.83 per token. They had held onto these coins through both the 2021 and 2025 bull markets before deciding to sell.