Four dormant Ethereum wallets sold 33,623 ETH for $52.5 million after eight years inactive

After remaining untouched for nearly eight years, four Ethereum wallets have suddenly reactivated and executed large-scale sales. On-chain data reveals that these wallets collectively offloaded 33,623 ETH within just four hours, at an average price of $1,560 per ETH.

Wallets awakened after years of inactivity

These four wallets originally accumulated a total of 37,602 ETH in 2018, buying in at an average price of around $830 per token. In the latest transactions, most of these holdings were transferred to exchanges and sold off. According to available information, the total proceeds from the sales reached $52.5 million.

Mini glossary: Lookonchain is an on-chain analytics account that tracks blockchain transfers and large wallet movements. Arkham is a blockchain data platform renowned for tracing wallet activity and associating addresses.

Movements tracked by Lookonchain and cross-checked with Arkham data point to a realized profit of approximately $27.4 million based on entry costs. The article shares the wallet addresses involved and notes that these remained largely dormant since their initial accumulation period.

While these sales demonstrate that long-term investors can still lock in gains despite weakened market conditions, the profits remain limited compared to what could have been achieved during peak market rallies.

Profits fall short of all-time highs

Data shows that on paper, these wallets’ holdings once exceeded $150 million during past bull cycles. However, the owners did not sell during the major surges of 2021 and 2025, passing on peak exit opportunities.

Ethereum reached its all-time high of about $4,946 in August 2025. At that level, the wallets in question were worth exponentially more than the recent selling prices. Instead, the most recent sales occurred with ETH trading around $1,560.

Analysts point out that the divergence between potential peak value and realized profit exposes missed opportunities during past booms. The rapid completion of these recent sales also underscores a trend of long-term Ethereum holders now liquidating some of their positions.

Similar moves witnessed before

This string of transactions marks the latest example of early Ethereum investors reducing their holdings after years on the sidelines. In March, another early adopter sold roughly $31 million worth of Ethereum.

April likewise saw an ICO participant transfer 10,000 ETH, valued at approximately $23 million, after years of inactivity. With these latest moves, the reactivation of previously idle wallets is under close watch by market observers.

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