The Ethereum whale group '7 Siblings' sold $88.2 million worth of ETH within 15 hours, driven by short-term traders locking in profits.
The mysterious Ethereum whale collective known as '7 Siblings' has sold $88.2 million worth of Ether in the past 15 hours.
Holding approximately 1.21 million Ether, the blockchain analytics platform Lookonchain revealed in a post on X on Wednesday that the group sold 19,461 ETH at an average price of $4,532, worth about $5.6 billion.
From February 3 to April 7, the 7 Siblings acquired 103,543 ETH for $229.7 million, at an average price of $2,219. According to data collected by Lookonchain, this included the purchase of 24,817 ETH at $1,700 in early April, totaling $42.2 million.
Transaction records show that this giant whale's activity involves multiple wallets, indicating a well-planned strategy to manage and conceal a large amount of held assets. The largest transaction recorded shows ETH being deposited into the lending platform Aave v3.
Short-term ETH holders drive profit-taking.
Ethereum is facing new profit-taking pressure, with ETH trading around $4,600, led by short-term holders. Glassnode reported on Monday that these investors had daily earnings of approximately $553 million, far surpassing long-term holders. Long-term holders are relatively inactive, with cashing out levels reaching the highest since December 2024.
Glassnode states that despite ETH rising 43% over the past month, the current profit-taking levels are still 39% lower than last month's peak (when the price was nearly $3,500).
As Ethereum prices hit a yearly high, the Ethereum Foundation also sold approximately $12.7 million worth of 2,795 ETH. Later on Tuesday, the Foundation sold through a wallet associated with the Foundation in two transactions, reducing its holdings to just 99.9 ETH and 11.6 million DAI.
However, despite profit-taking, some remain bullish. Last weekend, BitMEX co-founder and Bitcoin billionaire Arthur Hayes stated that he sold $10.5 million worth of Ethereum at a trading price of $3,507 and bought back Ethereum just a week later.
If Bitcoin reaches $150,000, ETH could reach $8,600.
Reportedly, cryptocurrency trader Yashasedu believes that if Bitcoin reaches $150,000, Ether could climb above $8,500, citing historical bull market trends where ETH's market cap reached 30-35% of Bitcoin's.
If the price of ETH reaches 35% of Bitcoin's $150,000 value, its price could reach $8,656. Even in the lower range of 21.7%-30%, ETH's trading price could be between $5,376 and $7,420. This prediction comes as Ethereum's total locked value (TVL) exceeds $90 billion and institutional investor interest is growing.
Notably, on Monday, the daily net inflow for spot Ether ETFs set a record of $1.01 billion. Meanwhile, BitMine Immersion Technologies announced plans to raise $20 billion to purchase Ether.
