Dormant Ethereum Whale Moves $23M, Causes 1.5% Price Dip

2026-04-29 21:46

An Ethereum wallet, inactive since July 2015, has moved $23 million worth of ETH, sparking significant market attention. The wallet, which initially acquired 10,000 ETH during Ethereum's ICO at $0.311 per token, sold the entire amount at an average price of $2,027, according to Arkham Intelligence. This transaction, completed within an hour, led to a 1.5% dip in Ethereum's price. The sudden activity from this long-dormant wallet has raised concerns among traders, as such movements often signal potential market shifts. Ethereum's price is currently hovering around $2,300, a critical support level. Analysts suggest that maintaining this level is crucial for stability, with resistance at $2,400 and potential downside risks if support fails.

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