The Ethereum whale group “7 Siblings” has sold $88.2 million in ETH within 15 hours, as short-term traders capitalize on profits amidst rising prices.
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Ethereum whale activity: The “7 Siblings” group sold 19,461 ETH at an average price of $4,532.
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Profit-taking pressure: Short-term holders are realizing approximately $553 million in daily gains.
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Future projections: ETH could reach $8,600 if Bitcoin hits $150,000, based on historical trends.
Ethereum whale group “7 Siblings” sold $88.2 million in ETH, highlighting profit-taking trends among short-term traders. Discover the implications for the crypto market.
What is the “7 Siblings” Ethereum Whale Group?
The “7 Siblings” is a collective of Ethereum whales that recently sold $88.2 million worth of Ether. Holding approximately 1.21 million ETH valued at around $5.6 billion, they strategically manage their assets across multiple wallets.
How are short-term ETH holders influencing the market?
Short-term Ethereum holders are currently driving profit-taking, realizing about $553 million in daily gains. This trend is evident as ETH trades around $4,600, with many investors cashing out at levels not seen since December 2024.
Frequently Asked Questions
What are the recent activities of Ethereum whales?
Ethereum whales, particularly the “7 Siblings,” have sold significant amounts of ETH, indicating a trend of profit-taking among short-term investors.
How much ETH is currently being sold by short-term holders?
Short-term holders are realizing approximately $553 million in daily gains, reflecting their active trading strategies in the current market.
Key Takeaways
- Whale activity: The “7 Siblings” sold 19,461 ETH, indicating strategic profit-taking.
- Market pressure: Short-term holders are realizing substantial daily gains, affecting ETH pricing.
- Future potential: ETH could reach $8,600 if Bitcoin’s value increases significantly.
Conclusion
The recent activities of the “7 Siblings” Ethereum whale group and the profit-taking by short-term holders highlight the dynamic nature of the crypto market. As ETH prices fluctuate, potential future gains remain a topic of interest for investors and analysts alike.
Ethereum whale group “7 Siblings” has sold $88.2 million in ETH within 15 hours as short-term traders lock in profits.
The mysterious Ethereum whale collective known as “7 Siblings” has offloaded $88.2 million worth of Ether over the past 15 hours.
Holding an estimated 1.21 million Ether (ETH), valued at roughly $5.6 billion, the group sold 19,461 ETH at an average price of $4,532, blockchain analytics platform Lookonchain revealed in a Wednesday post on X.
Between Feb. 3 and April 7, 7 Siblings acquired 103,543 ETH for $229.7 million at an average price of $2,219. The haul included a $42.2 million purchase of 24,817 ETH at $1,700 in early April, according to data accumulated by Lookonchain.
Transaction records show the whale’s activity spans multiple wallets, suggesting a deliberate strategy to manage and obscure large holdings. The largest movements show ETH being deposited into Aave v3, which is a lending and borrowing platform.
Related: Ether futures open interest hits all-time high as ETH price tops $4.5K — Will it last?
Short-term ETH holders drive profit-taking
Ethereum is facing renewed profit-taking pressure, with short-term holders leading the charge as ETH trades around $4,600. On Monday, Glassnode reported that these investors are realizing about $553 million in daily gains, far outpacing long-term holders, who remain relatively inactive and are cashing out at levels last seen in December 2024.
Despite being up 43% over the past month, ETH’s current profit-taking levels are still 39% below last month’s peak, when prices were near $3,500, Glassnode said.
The Ethereum Foundation also sold 2,795 ETH worth roughly $12.7 million as prices hit yearly highs. The sales, executed in two transactions late Tuesday via a wallet linked to the foundation, reduced its holdings to just 99.9 ETH and 11.6 million DAI.
However, despite the profit-taking, some remain bullish. Over the weekend, BitMEX co-founder and Bitcoin billionaire Arthur Hayes said he had bought back into Ethereum just a week after selling $10.5 million when it was trading at $3,507.
Related: Michael Saylor is not sweating the rise of Ethereum treasury companies
ETH could hit $8,600 if Bitcoin reaches $150,000
As reported, crypto trader Yashasedu believes Ether could climb above $8,500 if Bitcoin reaches $150,000, citing historical bull market trends where ETH’s market cap reached 30–35% of Bitcoin’s.
If ETH were to match 35% of Bitcoin’s value at $150,000, the price could hit $8,656. Even at a lower range of 21.7–30%, ETH could trade between $5,376 and $7,420. The projection comes as Ethereum’s total value locked (TVL) exceeds $90 billion and institutional interest grows.
Notably, spot Ether ETFs registered record $1.01 billion in daily net inflows on Monday. The inflow came as BitMine Immersion Technologies announced plans to raise $20 billion for ETH purchases.
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