Ethereum is experiencing its weakest October performance since 2018, with the price declining by 13.6% during the month. The asset was trading at $2,328.57 at the time of the report.
On-chain data shows that long-dormant wallets transferred approximately 56,000 ETH between October 5 and October 29. More than 10 large transactions were identified, with four of the five largest transfers directed to Coinbase or Kraken.
One notable transaction occurred on October 5, when a wallet sent 13,330 ETH, valued at approximately $36.37 million, to Coinbase. This wallet originally acquired 170,000 ETH during the 2015 ICO at a price of $0.31 per coin.
Additionally, wallets linked to the Ethereum Foundation moved about 14,770 ETH across three separate days. On October 29, another wallet that had been inactive for three years deposited its entire balance of 2,119 ETH, worth $4.99 million, to Coinbase.
US spot Ethereum ETFs recorded net outflows on 17 out of 20 trading days through October 28. Total monthly outflows reached approximately $1.35 billion, marking the second-largest monthly outflow on record after November 2025.
