Four early Ethereum wallets sell 33,623 ETH for about $52.5 million
The addresses received 37,602 ETH in 2018 at roughly $830 per coin and sold most of it over about four hours near $1,560, as long-dormant holders resurfaced in a weak market.
Four Ethereum wallets that received 37,602 ETH in 2018 at roughly $830 per coin sold 33,623 ETH over about four hours on Friday at approximately $1,560 each, generating around $52.5 million in proceeds, according to Arkham data flagged by Lookonchain. The sale left the wallets with an estimated profit of about $27.4 million, far below the more than $150 million in unrealized gains the positions had shown during the 2021 and 2025 bull markets. Ethereum had reached an all-time high of about $4,946 in August 2025 before falling back below $1,560 as of Friday. The transfers add to a recent pattern of long-dormant Ethereum holders becoming active during the downturn, following other decade-old wallets that moved or sold sizable ETH positions in March and April.
- unrealized gains: Paper profits on an asset that has risen in value but has not yet been sold.
- bull markets: Extended periods in which asset prices generally rise.
- onchain: Activity or data recorded directly on a blockchain network.