Four Dormant Ethereum Wallets Move 37,602 ETH From 2018 and Begin Selling Into the Drawdown

• Volume moved: Four addresses of ancient origin transferred a total of 37,602 $ETH during Friday’s session.
• Acquisition price: The coins were originally received in 2018 at an approximate value of $830 per unit.
• Liquidation executed: The operators sold 33,623 $ETH at an estimated price of $1,560, generating real profits of $27.4 million.

Four dormant Ethereum wallets that had protected thousands of tokens since 2018 broke their lethargy this Friday to liquidate most of their funds on exchanges. The movements coincide with one of the deepest price contractions within the current crypto market cycle.

The on-chain analysis from Arkham shared by Lookonchain indicates that the addresses identified as 0x71B…D412f, 0x92a…ae49D, 0x6C7…5C327, and 0xffd…5BeE5 executed the sales in an estimated span of four hours. Analysts indicated that the entities obtained approximately $52.5 million in gross revenue after trading 33,623 $ETH at a rate of $1,560 per unit.

After holding $ETH for 8 years, these #Ethereum OGs finally gave up.

Four #Ethereum OG wallets received 37,602 $ETH($58.66M) 8 years ago at ~$830.

During the 2021 and 2025 bull markets, their unrealized profit exceeded $150M, but they never sold.

After 8 years of dormancy,… pic.twitter.com/bu5hqlIc9n

— Lookonchain (@lookonchain) June 26, 2026

The impact of timing on financial returns

The execution of these operations occurs in an environment of structural weakness for crypto assets. Historical price records show that in August 2025 Ethereum reached an all-time high of $4,946, a level well above the values recorded this Friday below the $1,560 mark.

Due to this drop, the investors’ unrealized gains suffered a significant reduction. According to estimates from Lookonchain researchers, the potential profit of these accounts exceeded $150 million in both the 2021 and 2025 bull markets. The final captured performance represented less than a fifth of the maximum value that the positions managed to record on paper.

The reactivation of old funds is a trend that analysts are watching closely. The ecosystem has recorded similar events in previous months, suggesting that some long-term participants prefer to secure liquidity in the face of global macroeconomic uncertainty.

For example, transaction records show that a historical investor of the network sold $31 million worth of $ETH last March through the Coinbase exchange, after keeping their holdings intact for a decade. Likewise, in April 2026, an initial coin offering (ICO) participant transferred 10,000 $ETH to a new address after ten years without registering operations on the blockchain.

The current price behavior keeps the next zones of technical liquidity under scrutiny on the exchange charts. Institutional operators are assessing whether the selling pressure exerted by these ancient whales will continue to push the price toward the quarter’s lows or if the market will manage to stabilize in the short term.