Four Ethereum wallets that have been dormant for eight years moved 33,623 ETH, valued at roughly $52.5 million, at an average price of $1,560, according to Lookonchain. The transactions took place while ETH traded near $1,575.

The wallets originally received 37,602 ETH and had remained inactive until the recent sale, which occurred as the price approached the $1,500 level.

Spot ETH ETFs recorded net outflows from June 22 through June 26, removing a potential source of fresh demand during the same period.

Competing layer‑1 chains such as Solana have continued to attract attention, adding pressure on Ethereum’s price recovery.

Whether new spot demand can absorb the additional supply from these long‑held wallets remains an open question as the market evaluates the impact on price stability.