Data shows that ETH's ancient whale, with costs below $400, repeatedly profited and exited, after which the price often peaked in stages.

[Data: Ancient ETH whale with costs below $400 repeatedly cashed out, often leading to price peaks] According to Mars Finance, on January 1st, on-chain data analyst Murphy analyzed the behavior of ancient ETH whale with costs below $400 in this cycle. Currently, the average turnover cost of ETH held for 5 to 7 years is $378. Between 2024 and 2025, whenever the ETH price broke through the $4000 mark, a large number of ancient whales cashed out their profits. For example, in March 2024, those holding ETH for more than 5 years realized a profit of $600 million in a single day, and in June, a staggering $1 billion was realized through profit-taking. In September 2025, those holding ETH for more than 7 years, and in October, those holding ETH for more than 10 years, all cashed out over $500 million in a single day. Without exception, ETH peaked after these ancient whales cashed out their profits. Since ETH treasury companies began buying in large quantities in May 2024, the supply of ETH held for more than 5 years has gradually decreased, but the ancient whale of ETH with a cost of less than $400 still hold 20.1 million coins in stock.