Whale Sells $101.6 Million in ETH After 8-Year Dormancy: Uncovering the Massive Transfer

According to recent data from Onchain Lens, a significant development has emerged in the cryptocurrency market as a dormant whale address has commenced the sale of its Ether (ETH) holdings after an inactive period of eight years. Initially, this address acquired a substantial 12,229 ETH from @ShapeShift, which was valued at approximately $149,000 with an average purchase price of just $12.22. Following this prolonged dormancy, the whale shifted its strategy by transferring its entire ETH balance to a newly created address and initiating sales. As of the latest reports, this address has liquidated 3,367.5 ETH, generating an impressive total of $101.6 million, with the sales occurring at an average price of $3,018 per ETH. Currently, the wallet retains a sizeable balance of 8,862 ETH, reflecting a market value exceeding $270 million.