Four Ethereum addresses inactive since 2018 sold 33,623 ETH on June 26, generating roughly $52.5M in proceeds at approximately $1,560 per coin, on-chain analyst Lookonchain reported using Arkham Intelligence data.
The sale stands out because all four wallets reactivated in the same compressed window after nearly eight years without outbound transfers. These were identifiable early ETH holders who sat through two major cycle peaks, then sold together below those highs.
What sold
The four wallets, 0x71BBEa7879Ffd127e3D644bdA3170D37124D412f, 0x92a8CD3fC946d0cb7C347ED007BA8f581bfae49D, 0x6C748CB24A7fbCaedFC88adA735223125b25C327, and 0xffd72b7A8A2F7F1FB6287d18865EEB0b3d55BeE5, received a combined 37,602 ETH in 2018 at approximately $830 per coin.
On June 26, they cleared 33,623 ETH within roughly four hours. Lookonchain estimates realized profit at approximately $27.4M.
Why the timing matters
The wallets held through ETH's 2021 cycle peak and again through its August 2025 all-time high near $4,946, when combined unrealized gains exceeded $150M. They made no outbound transfers during those peaks.
That leaves the read unresolved. At current prices, the sales can look like early holders finally taking profit below peak value. They can also look like deliberate distribution by sellers patient enough to ignore both prior cycle highs and still choose June 26.
On-chain data can verify the addresses, transfers, amounts and timing. It cannot show motive. Lookonchain described the episode as part of a pattern of long-dormant Ethereum wallets reactivating during market downturns, citing similar events in March and April 2026.