Ether 8 years ago ($ETH) Wallets began moving coins for the first time since 2017, adding new supply to the market as Ether traded just above $1,500. On-chain data shows 37,806 $ETH While investment from long-dormant addresses has picked up steam, individual whale trades indicate continued accumulation by other large investors.
Various positioning continues over a long period of time $ETH Whale profitability has fallen below zero for the first time since 2019, leaving all major whale groups with unrealized losses.
$ETH Whalers are divided into accumulation and distribution.
According to Lookonchain, 37,602 was received in four Ethereum wallets. $ETH It became active about eight years ago after several years of dormancy, with an average price of about $830. The wallet was held through the bull markets of 2021 and 2025, when unrealized gains exceeded $150 million. sold 33,623 $ETH It sold for about $52.5 million on Thursday at about $1,560. Realized gains are now close to $27.4 million.
and $ETH Wallet storage period. Source: Lookonchain/X
fresh $ETH There has been some selling in addition to continued buying by other large holders. Blockchain tracker Lookonchain reported That one whale was replaced 464 $BTC 17,750 worth $27.6 million $ETHindicating the rotation of capital into ether.
Meanwhile, investor Chun Wang also obtained Another 9,937 $ETH and 147 wrapped Bitcoins. In the past month, Mr. Wang withdrew about $87,000. $ETH The average purchase price from Binance is $1,749.
institutional $ETH Trading remained active. BlackRock forwarded 41,996 $ETH and 4,577 $BTC The move to Coinbase Prime is generally more of a custodial or operational management related move than a confirmed market sale.
Crypto analyst Dirkforst noticed Aether whales hold between 1,000 individuals $ETH and over 100,000 $ETH The unrealized profit rate remains negative in both cases. This is the first time since 2019 that an entire major whale pod has gone underwater.
$ETH Whale’s unrealized profit rate. Source:X
Analysts say Whale’s conviction was tested when $ETH Prices often coincide with long-term bottom zones. The current scenario shows that large holders, despite being selective, will face greater pressure overall in 2026. $ETH Accumulation continues.
$1,500 level $ETH Attract traders’ attention
Ether fell sharply on Thursday to $1,510, but avoided a new year-to-date low even as Bitcoin fell to a new 2026 low.
Cryptocurrency trader aldi explained Ether’s key long-term support is $1,500, and we argue that a daily close below that level calls into question the bullish assumptions that have been building up since the 2022 bear market.
Ether/USD, 1 week chart. Source: Ardi/X
Virtual currency investor Jere share A similar view holds that if the break continues, Ether will return to the trading range last seen in early 2023. $ETH has defended the $1,500 area during several major corrections since mid-2022, making this area one of the longest-lasting support zones for altcoins.
However, not all market participants are expecting a short-term recovery. Popular trader Cyclops identified It cited the $1,070 to $1,370 range as a potential accumulation zone, saying it is a key demand area that will be established in early 2023. Even when moving to this range, $ETH It has broken below the multi-year uptrend line, and technological developments could further delay a sustained recovery and strengthen the broader bear market structure.
$ETH/USD, 1 week chart. Source: Cointelegraph/TradingView
