Whale Sells Ethereum After Eight Years of Dormancy

According to BlockBeats, a significant Ethereum transaction has been observed involving a whale address that had been inactive for eight years. The address, which originally received 12,229 ETH from ShapeShift eight years ago, valued at approximately $149,000 with an average price of $12.22 per ETH, has recently become active. Six hours ago, the whale address transferred all its Ethereum holdings to a new address and commenced selling. So far, the address has sold 3,367.5 ETH for a total of $101.6 million, achieving an average price of $3,018 per ETH. Despite these sales, the wallet still retains 8,862 ETH, which is currently valued at around $270 million. This significant movement in the Ethereum market has attracted attention due to the long period of inactivity followed by substantial sales activity.