# Ethereum Oldest Wallets Sell

**Published:** 2026-06-28T14:35:29.732Z  
**Topic:** Ethereum  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/70fcaa5f-3f43-4f65-896b-57306c941d44

Ethereum's oldest wallets sold 33,623 ETH near $1,560, testing buyer conviction with $52.5 million in sales, as ETF outflows complicate absorption

Four long-dormant Ethereum wallets have sold most of a 37,602 ETH stash near $1,560, turning Ethereum's drawdown into a test of whether fresh demand can absorb old-holder supply [2]. The sales matter because Ethereum's recovery now depends on spot buyers absorbing old-holder supply near the $1,500 zone, with the market proving whether buyers will step in before old supply weighs further.

| At a glance | |
|---|---|
| Price | $1,560 |
| 24h % move | -1.5% |
| Key level | $1,500 support |
| Catalyst | Dormant wallet sales |

## What drove the move
The wallets received 37,602 ETH about eight years ago and have remained quiet amid much larger unrealized gains [2]. They have now moved 33,623 ETH, worth roughly $52.5 million, according to Lookonchain, at an average price of around $1,560. ETH was trading near $1,575 at the time. The sale puts a sharper edge on Ethereum's weakness, with long-term holders who sat through prior bull-market exits now supplying the market at levels well below peak-cycle prices.

The $1,500 area is less of a simple price level and more of a conviction floor, as a market can absorb old coins when new demand is expanding, but the same supply becomes heavier when buyers are hesitant [2]. ETF outflows complicate the absorption story, with US spot ETH funds recording net outflows from June 22 through June 26, removing one of the cleaner channels for fresh spot demand while the market was already digesting dormant-holder supply [2]. 

## The competitive picture
Ethereum still has the deepest on-chain base in crypto, with DefiLlama data showing Ethereum with about $37.2 billion in DeFi TVL and more than $155 billion in stablecoins on the network [2]. However, rival layer-1 activity keeps the test under pressure, with Solana and other competing chains continuing to frame themselves around faster consumer and trading activity. Georg Harer, co-CEO at Bybit EU, believes that regulatory clarity in European markets could pave the way for the next crypto rally, with MiCA regulations potentially driving liquidity from traditional markets [3].

| Token | DeFi TVL | Stablecoins |
| --- | --- | --- |
| ETH | $37.2 billion | $155 billion |

## What to watch
* The $1,500 support level, as a break below could lead to further selling pressure
* The July 1 deadline for MiCA regulations, which could drive liquidity from traditional markets
* ETF flows, as a return to net inflows could signal renewed institutional interest in Ethereum

The real significance of the dormant-wallet sales lies in their ability to test buyer conviction, with the market waiting to see whether spot buyers will step in to absorb old-holder supply [2]. As the market navigates this test, the outcome will depend on the interplay between old supply, new demand, and regulatory clarity, with the $1,500 level serving as a crucial benchmark for Ethereum's near-term prospects.

## Sources
1. PC Magazine — [Polymarket to Refund Users After Hackers Drained Their Crypto Wallets](https://uk.pcmag.com/security/165847/polymarket-to-refund-users-after-hackers-drained-their-crypto-wallets)
2. CryptoSlate — [Ethereum's oldest wallets are selling into the $1,500 demand line buyers cannot...](https://cryptoslate.com/ethereums-oldest-wallets-are-selling-into-the-one-price-test-buyers-cannot-dodge/)
3. The Forex Market — [MiCA regulations could be the next bullish catalyst for crypto – Georg Harer, co...](https://www.fxstreet.com/cryptocurrencies/news/mica-regulations-could-be-the-next-bullish-catalyst-for-crypto-georg-harer-co-ceo-at-bybit-eu-202606231035)

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Cite as: TrendWatcher, "Ethereum Oldest Wallets Sell", https://www.trendwatcher.in/article/70fcaa5f-3f43-4f65-896b-57306c941d44