Wallet 0x0965, inactive for seven years, returned to the market and sold 27,585 ETH within 48 hours, according to on-chain tracker Lookonchain. The sales were executed at an average price of about $1,625 per coin, bringing in roughly $44.84 million. Estimated profit from the move was more than $39 million. The scale of the sale quickly turned attention back to Ethereum’s near-term trading range and wallet behavior on-chain.
An old position was closed far below peak paper gains
The same wallet had reportedly sat on unrealized profit of more than $130 million when Ethereum traded near its all-time highs. The recent transactions point to a decision to exit after a long holding period, but at a much lower price level. That detail stands out. This was not just a transfer between wallets or routine reshuffling; it was a realized sale from a long-dormant holder.
The $1,584 to $1,683 band is the market’s main reference point
Ali Charts said Ethereum is trading inside a high-volume range between $1,584 and $1,683, where nearly 4 million tokens have changed hands. If ETH holds that area, the next supply levels to watch are $1,980 and $2,079. If the band fails as support, the focus shifts lower to $1,237 and $1,089.
Market commentator Ardi described $1,500 as the most important threshold for the next four months. In his view, Ethereum has defended that base during major corrections since the end of the 2022 bear cycle.
Upcoming upgrades target L1-L2 coordination and lower gas costs
Ethereum co-founder Joseph Lubin has pointed to upcoming upgrades meant to improve coordination between Layer 1 and Layer 2 systems. Planned changes tied to zero-knowledge proofs are expected to speed up asset transfers across Ethereum-based networks. Lubin said this structure could reduce reliance on cross-chain bridges, an area that has been linked to security issues in the past.
The report also says the same set of changes may improve how liquidity is distributed across the ecosystem. A separate upgrade called Glamsterdam, expected before the end of the year, is projected to add more scalability and cut gas fees.
Ethereum still holds a large share of DeFi and tokenized assets
Ethereum has lost more than 30% of its value over the past 12 months, yet it still holds more than half of the total value locked across decentralized finance protocols. The network also accounts for roughly 50% of circulating stablecoins and tokenized real-world assets, according to the report. It adds that major financial institutions, including JPMorgan Chase, use Ethereum infrastructure for tokenized financial products.
Nearly 2,000 dApps are currently running on the network, which the article says has maintained uninterrupted service for more than a decade. For now, traders remain focused on the $1,584 to $1,683 zone as the clearest signal for Ethereum’s next directional move.