On April 18, 2025, at approximately 11:30 AM UTC, two wallets that had been dormant for 949 days reawakened, sparking significant market interest. These wallets executed a substantial transaction, spending 12.37 million DAI to purchase 7,738 ETH at an average price of $1,599 per ETH. This event was reported by Lookonchain on X (formerly Twitter) at 6:30 PM UTC on the same day (Source: Lookonchain X post, April 18, 2025). Following the purchase, one of the wallets transferred part of the acquired ETH to TornadoCash, a privacy-focused protocol, indicating a potential strategy to anonymize the transaction (Source: Lookonchain X post, April 18, 2025). The address involved in these transactions is 0x1131e0edfe625d2aab9c9868da5ec3c5c27e78c5, as reported by Lookonchain (Source: Lookonchain X post, April 18, 2025). This sudden activity from long-dormant wallets often signals significant market moves, and traders are closely monitoring the implications of such large transactions on the Ethereum market.

The trading implications of this large purchase are multifaceted. Firstly, the volume of ETH purchased in a single transaction can influence market dynamics. The total trading volume of ETH on major exchanges like Binance and Coinbase increased by 15% within an hour following the transaction, reaching a peak of $5.2 billion on April 18, 2025, at 12:30 PM UTC (Source: CoinMarketCap, April 18, 2025). This surge in volume suggests heightened market interest and potential volatility. The price of ETH rose by 3.5% to $1,655 within the next two hours, indicating a direct impact from the transaction (Source: CoinGecko, April 18, 2025). Additionally, the movement of ETH to TornadoCash raises questions about the intentions of the wallet holders, which could lead to further market speculation and potential price movements. Traders should consider these factors when analyzing potential entry or exit points in the ETH market.

From a technical analysis perspective, the sudden increase in ETH price and trading volume has led to notable shifts in several key indicators. The Relative Strength Index (RSI) for ETH moved from 55 to 68 within the two hours following the transaction on April 18, 2025, at 1:30 PM UTC, indicating a move into overbought territory (Source: TradingView, April 18, 2025). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, with the MACD line crossing above the signal line at 1:45 PM UTC on the same day (Source: TradingView, April 18, 2025). These indicators suggest a strong bullish momentum in the short term. Furthermore, the on-chain metrics reveal that the number of active ETH addresses increased by 10% within the hour following the transaction, indicating heightened network activity (Source: Glassnode, April 18, 2025). Traders should closely monitor these technical indicators and on-chain metrics to make informed trading decisions in the volatile ETH market.

What was the total amount of DAI spent on the ETH purchase? The total amount of DAI spent was 12.37 million. What was the average price per ETH during the transaction? The average price per ETH was $1,599. How did the price of ETH change following the transaction? The price of ETH increased by 3.5% to $1,655 within two hours of the transaction. What technical indicators showed bullish signals after the transaction? The RSI moved into overbought territory, and the MACD showed a bullish crossover. How did the trading volume of ETH change after the transaction? The trading volume of ETH on major exchanges increased by 15% within an hour, reaching $5.2 billion.