- Eight-year Ethereum holders sold millions after ignoring previous historic market peaks.
- Institutional investors continued accumulating Ethereum despite prolonged market weakness and uncertainty today.
- Analyst projects Ethereum’s next all-time high could arrive around June 2029.
Eight-year Ethereum holders have finally started selling their holdings after remaining inactive through two major bull markets. According to on-chain analyst Joao Wedson, the transactions come as Ethereum’s current bear market has become the second longest in the asset’s history, raising concerns about an extended recovery period.
Blockchain data showed that four dormant wallets moved 33,623 ETH worth about $52.46 million within four hours. The wallets originally received a combined 37,602 ETH eight years ago when the token traded near $0.83. Their initial investment totaled roughly $830.
The holders watched their unrealized gains climb above $150 million during the 2021 and 2025 market rallies. However, they did not sell at either peak. Instead, they waited until Ethereum traded near $1,560 before reducing their positions. Consequently, they secured an estimated profit of about $27.4 million.
Their decision arrived during another difficult week for the cryptocurrency market. Bitcoin declined to a yearly low of $58,126, erasing about $150 billion in market value. Meanwhile, Ethereum dropped to nearly $1,510, reducing its market capitalization by approximately $31 billion.
Also Read: XRP Long Liquidations Reach Five-Month High as Open Interest Continues Falling
Institutional Buyers Continue Building Ethereum Positions
While early Ethereum holders locked in profits, institutional investors continued accumulating digital assets. Over the past nine days, a newly created wallet received 18,361 ETH valued at $28.91 million from FalconX. The same wallet also received 152,986 HYPE tokens worth approximately $9.73 million. Additionally, F2Pool co-founder Chun Wang expanded his crypto holdings with another purchase of 9,937 ETH worth $15.5 million and 147 wrapped Bitcoin valued at $8.74 million.
His buying activity has remained consistent throughout the past month. During that period, Wang withdrew 86,998 ETH worth roughly $152 million from Binance at an average price of $1,749. Besides Ethereum, he also accumulated 973 WBTC valued at $60.7 million at an average acquisition price of $62,418.
Moreover, SharpLink continued strengthening its Ethereum treasury by purchasing another 5,000 ETH worth about $7.88 million. The latest acquisition added to growing institutional demand despite the broader market decline. According to Wedson, Ethereum’s current bear market has already lasted more than 282 days. That makes it the second longest downturn in the cryptocurrency’s history. By comparison, the 2018 bear market lasted 335 days, while the 2022 cycle extended for 222 days.
Wedson also pointed to a longer-term trend in Ethereum’s recovery pattern. The network reached a new all-time high 267 days after the 2018 downturn ended. The following cycle required 1,106 days before setting another record. Most recently, Ethereum needed 1,382 days to establish a new peak. Based on those historical trends, Wedson estimated that if Ethereum follows the same recovery timeline from its August 2025 peak, the cryptocurrency may not record another all-time high until around June 2029.
Conclusion
Ethereum’s latest market activity reflects two contrasting strategies among investors. Long-term holders have started realizing gains after years of inactivity, while institutional buyers continue accumulating ETH as analysts project a longer recovery cycle.
Also Read: Chainlink Logs Strongest Network Growth This Year With More Than 6,100 New Wallets
