Old Ether wallets move 37,806 ETH as whale conviction faces key test at $1.5K

Old Ether wallets moved 37,806 ETH as long-term whale profitability turned negative for the first time since 2019, signaling mixed sentiment among large holders.

Eight-year-old Ether (ETH) wallets have started moving coins for the first time since 2017, adding fresh supply to the market as Ether trades just above $1,500. Onchain data shows 37,806 ETH from long-dormant addresses became active, while separate whale transactions point to continued accumulation by other large investors. 

The mixed positioning comes as total long-term ETH whale profitability has fallen below zero for the first time since 2019, leaving every major whale cohort sitting on unrealized losses. 

According to Lookonchain, four Ethereum wallets that received 37,602 ETH nearly eight years ago at an average price of around $830 became active after years of dormancy. The wallets held through the 2021 and 2025 bull markets, when their unrealized gains exceeded $150 million, sold 33,623 ETH for about $52.5 million at around $1,560 on Thursday. The realized profit now stands near $27.4 million.

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