#SolanaEcosystemANSEMSurges

Surrendered After 8-Year Hold, Ethereum Whale Sells 33,623 ETH at $1,560
A surprising liquidation move occurred in the crypto industry after four wallets that had been inactive for eight years suddenly reactivated. Based on monitoring data from Lookonchain on Saturday (June 27), those old wallets massively sold most of their holdings of 33,623 ETH. This sell-off was executed at an average price of $1,560 per ETH, recording a total divestment value of $52.5 million, or approximately IDR 858 billion.
This phenomenon of old whales offloading assets occurred precisely when Ethereum is struggling to maintain its position in a critical zone. This sale immediately shifted the market's psychological landscape, redirecting investor focus from mere daily movements to a major test of whether new spot buyers can absorb the selling pressure from these old whales.
The burden of absorbing this supply feels even heavier given the weakening performance of institutional investment products. Data shows that U.S. spot Ethereum ETF products continued to record net outflows throughout the past week from June 22 to June 26, effectively reducing major liquidity channels in the spot market. Added to this, Ethereum's dominance in the DeFi sector continues to face stiff challenges from alternative ecosystems such as Solana and other layer-2 networks, sparking doubts among retail investors about the speed of future price recovery.