After 900 Days of Hodling, a Whale Finally Dumped Its ETH

Blockchain analytics confirmed that the wallet was already accumulating ETH during Ethereum's formative years, well before transitioning from proof-of-work to proof-of-stake.

Blockchain analytics confirmed that a major Ethereum (ETH) wallet, which had been inactive for 900 days, recently woke up to liquidate a portion of its holdings. The wallet, which still holds a significant amount of ETH and ERC-20 tokens, is now being closely monitored by crypto enthusiasts.

The wallet, which is known for holding a variety of tokens, including USDT (Tether), UNI (Uniswap), and memecoin SHIB (Shiba Inu) in addition to ETH, began accumulating ETH during the cryptocurrency’s formative years, well before the transition from proof-of-work to proof-of-stake.

Hodling for long periods is not an uncommon strategy as crypto whales sometimes stash assets for years, resisting taking profit when they peak. Apart from ETH, Ether investors tend to gravitate towards ERC-20 tokens because of the network’s familiarity. Popular options include USDT (Tether), UNI (Uniswap), and memecoin SHIB (Shiba Inu). To better manage their assets securely, such investors now visit Best Wallet to find and use a reliable ERC-20 wallet option, offering seamless access to all Ethereum-based tokens and decentralized apps in one interface.

The event, which occurred on April 9, 2025, saw the wallet transfer a large sum of ETH in batches, causing a short-term dip in the cryptocurrency’s price. However, ETH later stabilized.

These transactions are usually followed closely by crypto traders as they have the potential to affect market liquidity and trader psychology. In the case of ETH, the cryptocurrency has deep liquidity thanks to interest from institutions, making it more resilient to volatility caused by whales compared to other altcoins.

At the time of writing, ETH is changing hands at $1,500 and above. The rate at which the cryptocurrency is being sold could also depend on the actions of the whales.

On April 9, 2025, ETH peaked at $1,600 and dropped towards $1,500 as it saw steady trading. Analysts speculate this could coincide with the whale pulling off a sale to keep profits locked in.

Source: CoinMarketCap

This is not the first time a long-term Ethereum whale has made headlines. A similar incident occurred in 2023 when another long-term dormant wallet liquidated $22 million in ETH after nearly a decade. The ETH prices dropped temporarily following that sale but fell short of any significant market impact.

Community and Market Response

Swift reactions came across social media as crypto enthusiasts and analysts weighed in on the situation and timing of the sell-off. Some thought the move was just a profit realization.

While that may be true, Blockchain analytics service Lookonchain noted the whale did not sell when ETH broke $4,000.

“The 900-day-old ETH & SHIB whale finally woke up today and liquidated some of his ETH holdings. He did not sell when ETH broke $4k, but he sold when it dropped to $1.5k. After 900 days of hodling, liquidation now seems to be the main motive for breaking the routine.”

Regardless, the owner made a profit of $2.75 million on this sale. Meanwhile, Lookonchain also reported another whale acquired 24,817 ETH worth $42.2 million.

The Importance of EIP-4844

As of April 14, 2025, Ethereum is approaching $1800. Source: Brave New Coin Ethereum Liquid Index.

Ethereum’s sell-off has cooled because long-term investors know its fundamentals are still intact. It still holds onto smart contract activity, decentralized finance (DeFi), and NFT markets. Long-term confidence is still maintained.

One of the latest Ethereum developments is its EIP-4844 (also known as Proto-Danksharding). It is aimed at reducing gas fees. The solutions work with Layer 2 solutions like Optimism and Arbitrum. In some cases, it reduced fees by up to 94%.

All major blockchain companies are constantly looking for ways to reduce transaction fees while increasing transaction speed. This is a good thing for both retail investors and long-term investors, especially whales who move large amounts of coins at a time.