Ethereum’s oldest wallets are selling into the $1,500 demand line buyers cannot dodge
Four dormant Ethereum wallets that had held 37,602 ETH for about eight years sold 33,623 ETH, worth roughly $52.5 million, at an average price near $1,560. The move matters less for size than for timing: long-term holders are selling into a weak recovery near the $1,500 zone, turning that level into a test of buyer conviction. ETH’s rebound now depends on spot demand absorbing old supply. That is harder with recent US spot ETH ETF net outflows, weaker relative performance versus Bitcoin and other large caps, and competition from faster layer-1 narratives like Solana. Dormant-holder selling can hurt sentiment even when it is not huge, especially if marginal buyers are already hesitant. Ethereum still has strong fundamentals, including about $37.2 billion in DeFi TVL and more than $155 billion in stablecoins on-chain. But those structural strengths do not automatically absorb near-term selling. A durable recovery needs fresh spot accumulation from ETFs, treasuries, DeFi users, or broader risk appetite.
