In the latest crypto news, four long-dormant Ethereum wallets have come back to life after nearly eight years of inactivity. According to on-chain data shared by Lookonchain, the wallets sold 33,623 ETH worth $52.46 million over a four-hour period. While the holders still realized an estimated profit of $27.4 million, the sales came when Ethereum was trading much lower than its all-time high. At the peak of the 2021 and 2025 bull markets, the wallets’ unrealized profits had exceeded $150 million.
Ethereum OGs End Eight-Year Hold
Notably, the four wallets originally received a combined 37,602 ETH in 2018, when Ethereum traded at roughly $830. At the time, those holdings were worth a little over $31 million. Since then, the holdings had remained untouched despite multiple bull and bear market cycles.
That changed on Friday, when the wallets transferred and sold 33,623 ETH at an average price of approximately $1,560 per coin. The transactions generated roughly $52.46 million in proceeds. Even after holding the assets for nearly eight years, the investors ultimately realized profits of about $27.4 million.
The wallets have not completely exited their positions. After the latest transactions, they still collectively hold about 3,979 ETH. At current market prices, those remaining holdings are worth more than $6 million.
More Than $150 Million in Potential Gains Disappeared
The sudden activity has drawn attention across the crypto community, particularly because the wallets remained inactive during Ethereum’s strongest rallies. During both the 2021 and 2025 bull markets, the four wallets sat on unrealized profits exceeding $150 million. Ethereum eventually climbed to an all-time high of approximately $4,953 in August 2025.
Rather than selling during that period, the Ethereum OGs waited too long. They only became active after Ethereum retraced significantly toward the $1,560 range. As a result, they captured only a fraction of the gains that were once available on paper.
The transactions serve as another reminder that unrealized profits can disappear quickly during volatile market cycles. Long-term conviction can generate substantial returns, but failing to take profits during strong markets may significantly reduce realized gains.
Dormant Wallets Continue to Reawaken
The latest sales also fit a broader trend of long-dormant Ethereum wallets becoming active during the current market downturn. Earlier this year, another Ethereum OG reportedly sold ETH at a profit of only $5.8 million after holding the asset for a decade. At peak prices, he would have almost $10 million for the same quantity. Another ICO-era participant withdrew 1,430 ETH in February after more than ten years of inactivity. The tokens were worth approximately $2.81 million at the time, but they would have been worth over $7 million.
Analysts often watch dormant wallets closely because their movements can influence market sentiment. Although the latest sales represent only a small fraction of Ethereum’s circulating supply, they demonstrate that even some of the network’s earliest holders are choosing to reduce exposure as the market struggles to regain momentum.
The CoinRemark Team
Temitope Olajide