Long-dormant Ethereum whale activity resurfaced on October 10, 2026, as two separate movements involving a combined 15,649 ETH — worth roughly $38.9 million — drew attention from traders and analysts.
According to a report highlighted by CryptoTwitter commentator @whale_alert, an Ethereum address idle for over 10.2 years was activated. The address holds 12,746 ETH, valued at approximately $31.7 million. The activation immediately sparked speculation about whether a long-term holder could be preparing to sell or reposition assets, with market participants watching for signs of selling pressure or renewed accumulation.
In a separate, similarly notable event highlighted by @lookonchain, three previously inactive wallets deposited 2,903 ETH — about $7.22 million — into Coinbase. Those wallets had been dormant for more than nine years and originally acquired the ETH at an average price near $9.90, implying a roughly 250x return and an estimated profit of $7.19 million. Deposits to a major exchange such as Coinbase are often interpreted as a potential precursor to selling, although no actual sale was reported.
The Ethereum market was already showing mixed signals and relatively low trading volumes, and the timing of these whale movements added to short-term uncertainty. While dormant-address activations do not mechanically push prices down, they can shift liquidity perceptions and trader sentiment. Analysts noted that whether the moved ETH is eventually sold, held on exchanges, or used for other purposes could influence near-term volatility and broader Ethereum market dynamics.
