Four long-dormant Ethereum wallets recently moved and sold most of their 37,602 ETH stash (worth about $58.7 million at current prices) near the $1,560 level. This event turns Ethereum's current decline into a test: can new demand absorb supply from old holders?
What Happened?
According to data from analytics platform Lookonchain, four wallets that had been inactive for several years suddenly activated and began selling ETH. The first wallet sold 19,000 ETH at $1,562, the second sold 10,000 ETH at $1,563, the third sold 5,000 ETH at $1,563, and the fourth sold 3,602 ETH at $1,560. In total, they realized 37,602 ETH.
Why Is This Important?
Such moves from "ancient" whales often signal a possible trend reversal or increased selling pressure. The $1,500 level is considered a critical support zone by many traders. If demand cannot absorb this volume, the price may drop further.
What This Means for Stablecoin Users
For those using USDT or USDC to enter or exit Ethereum, ETH volatility directly affects gas costs and transaction confirmation times. During sharp price movements, fees on the Ethereum network (ERC-20) may temporarily spike. If you need to transfer stablecoins, consider alternative networks such as TRC-20 (Tron) — fees are significantly lower and confirmation speeds are higher.
Conclusion
Sales by old whales remind us that the market remains unpredictable. For stablecoin operations, choose a network with the optimal balance of speed and cost. TRC-20 remains one of the most cost-effective options for USDT transfers.
Disclaimer: This material is for informational purposes only and does not constitute financial advice. Cryptocurrencies are high-risk assets.
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