Eight-year-old Ether (ETH) wallets have started moving coins for the first time since 2017, increasing supply to the market as Ether prices trade above just over $1,500. Onchain data shows that 37,806 ETH was activated from long-dormant addresses, while separate whale transactions indicate continued accumulation by other immense investors.
The mixed position comes as the total long-term yield of ETH whales fell below zero for the first time since 2019, leaving every major cohort of whales with unrealized losses.
Whale traders in ETH are divided into accumulation and distribution
According to Lookonchain, four Ethereum wallets that received 37,602 ETH at an average price of around $830 almost eight years ago have become lively after years of dormancy. Portfolios held during the 2021 and 2025 bull markets, when their unrealized gains exceeded $150 million, sold 33,623 ETH for around $52.5 million at around $1,560 on Thursday. The realized profit is now close to $27.4 million.
Retention period for OG ETH wallets. Source: Lookonchain/X
The fresh ETH selling came alongside further purchases from other immense holders. Lookonchain Blockchain Tracker reported this one whale converted 464 BTC worth $27.6 million into 17,750 ETH, signaling capital rotation into Ether.
Meanwhile, so did investor Chun Wang acquired another 9,937 ETH and 147 packed Bitcoins. Over the past month, Wang withdrew nearly 87,000 ETH from Binance at an average purchase price of $1,749.
Institutional ETH trading also remained lively. BlackRock transferred 41,996 ETH and 4,577 BTC to Coinbase Prime, a move commonly associated with custodial or operational management rather than a confirmed market sale.
Darkfost cryptocurrency analyst excellent that all ether whales holding between 1,000 and over 100,000 ETH have negative unrealized profit ratios. For the first time since 2019, all major whale pods were underwater.
ETH Whale Unrealized Profit Rate. Source: X
The analyst found that the periods where whale belief was tested by ETH prices often coincided with long-term bottom zones. The current scenario indicates that immense cryptocurrency holders will face more overall pressure in 2026, even if selective ETH accumulation continues.
Related: Tether stablecoin reverses Ether by market cap as ETH falls to 1.5k dollars
The $1,500 level for ETH is attracting traders’ attention
Ether fell to $1,510 in Thursday’s sell-off, though it avoided making a up-to-date one-year low even as Bitcoin fell to up-to-date 2026 lows.
Cryptocurrency trader Ardi described $1,500 as key long-term support for Ether, arguing that daily closes below that level undermine bullish assumptions building from a 2022 bear market.
Ether/USD, weekly chart. Source: Ardi/X
Cryptocurrency investor Jelle common expresses a similar view, saying that a sustained breakout would see Ether return to the trading range last seen in early 2023. Weekly price movements show that ETH has defended the $1,500 region during several major corrections since mid-2022, making it one of the altcoin’s longest-standing support zones.
However, not all market participants expect recovery in the near future. Popular trader Cyclops identified the $1,070-$1,370 range as a potential accumulation zone, citing it as a key demand area established in early 2023. A move into this range would also mean ETH breaking below the multi-year rising trendline, a technical advance that could further delay a sustained recovery and reinforce the broader bearish market structure.
ETH/USD, weekly chart. Source: Cointelegraph/TradingView
Related: XRP Risk Falls Below $1, But Onchain Data Underlines Good Situation
