According to onchain analytics platform Onchain Lens, a dormant Ethereum whale address that had been inactive for 7 years has recently awakened and started selling its ETH holdings. The address has executed its trades through the limit-order platform CoWSwap, selling 1,100 ETH for approximately $1.9 million USDS, netting a realized profit of $41 million.
Whale Holdings and Cost Basis
Onchain data reveals that the whale address originally purchased 27,586.48 ETH at a total cost of about $5.72 million approximately 7 years ago, implying an average cost of roughly $207 per ETH. After a long period of dormancy, the address began selling in batches. As of now, the address still holds 26,486.48 ETH, valued at around $44.86 million at current market prices. If all remaining tokens are sold, the whale's total profit could increase further.
Sale Method and Platform
This liquidation is being conducted via CoWSwap, a decentralized exchange aggregator based on batch auctions. CoWSwap offers better price execution and privacy protection for large orders. Using such a platform for large sell orders helps minimize direct market impact and reduces slippage that could result from a concentrated sell-off.
The awakening and selling activity of this whale has drawn significant attention from the onchain community, with market participants closely watching its next moves. If the remaining 26,000+ ETH are gradually released into the market in the future, they could potentially affect short-term Ethereum liquidity.