Ethereum sees renewed focus after a dormant whale moves $145M in ETH, while analysts weigh long-term value against price pressure.
Onchain observers have captured a significant asset movement by an Ethereum whale who moved a large ETH stash after years of silence. Interestingly, the transfer comes at a time when the ETH price remains under pressure. Even at that, analysts believe that the coin’s fundamentals position it as an asset with strong upside.
Inactive Ethereum Wallet Transfers 50,000 ETH to Exchange
Recent on-chain activity revealed a dormant Ethereum whale returning to activity after several years. The wallet made two transfers on Sunday, moving 50,000 ETH worth nearly $145 million. Both transactions sent 25,000 ETH each to a Gemini wallet, according to blockchain analytics firm EmberCN.
一个休眠了 9 年之久的 ETH 巨鲸地址，在最近 12 个小时里醒来把 5 万枚 ETH ($1.45 亿) 转进了 Gemini 交易所。
◎这个地址在 9 年前从 Bitfinex 交易所提出 13.5 万枚 ETH ($1217 万)，当时 ETH 价格约 $90。目前价格相较当时上涨了 32 倍。
◎在今天转出 5 万枚 ETH 后，这个地址仍持有 8.5 万枚… pic.twitter.com/GSyphyyIgF— 余烬 (@EmberCN) January 26, 2026
As reported, the wallet “0xb5…Fb168D6” withdrew roughly 135,000 ETH from Bitfinex in 2017. At the time, the transaction was worth $12.17 million, given that the coin exchanged hands at $90. Since that withdrawal, the address remained inactive until recent transfers.
Even after the large transfers, the wallet’s balance remains sizable. Figures stand at 85,283 ETH ($244 million), according to onchain figures.
Transfers of this size to exchanges often raise concerns about possible selling. However, such activity is yet to be confirmed by market observers.
At the time of writing, the coin is hovering just under $2,900 after trading flat over the past day. And this struggle has carried over into the coin’s performance, as it failed to break above the $2,950 price level. In fact, selling pressure has driven the asset below $2,840.
Image Source: TradingView
Analysts suggest a sustained move above $3,000 could push the token to $3,065. Further strength beyond that zone may push $3,120 or even $3,150 in the near term
Analyst Points to Macro Shifts Supporting Ethereum’s Outlook
Given the current market situation, analysts are focusing on Ethereum as a long-term store of value. Lorenzo Valente shared one such view on X, pointing to ETH’s position from a macro perspective.
I think ETH is starting to look really uniquely positioned from a macro perspective. A few thoughts:
1) Store-of-valueness + quantum: Quantum is a real long-term threat. Maybe not “next 10 years,” but markets are forward-looking. If you want an asset you can set-and-forget for… https://t.co/LRDkw1Az9m
— Lorenzo Valente (@LorenzoARK) January 26, 2026
He noted that quantum-resistant upgrades on the roadmap could strengthen that case over time. Markets often price future risks early, which makes long-term planning an important consideration.
Besides that, Valente focused on software risk in an era of rapid AI-driven code generation. In the post, he mentioned that aster bug discovery could weaken claims that complex systems never need changes. As such, Ethereum’s willingness to upgrade may offer flexibility under those conditions.
Valente also stated that Ethereum has the cleanest monetary policy in the crypto market. He noted that the network does not operate on approximately 5% annual inflation, as Solana and many other layer-one networks do.
According to him, net ETH inflation has remained low, around 0.8% over the past 30 days and about 0.21% since the Merge. Those figures sit well below those of many other layer-one networks and even below gold’s long-term supply growth.
He added that Ethereum does not compete with AI data centers for power or capital. As a result, the network avoids the security budget pressure that may grow as AI spending rises. In the analyst’s view, this separation could become more important over time.
Valente did not forget to note the upside tied to stablecoins, tokenized assets, and automated payments. If usage rises, fee burn could increase, pushing ETH back toward deflation.
