The enigmatic Ethereum whale collective known as the “7 Siblings” has sold $88.2 million worth of Ether in the past 15 hours.
According to blockchain analytics platform Lookonchain, the group—holding roughly 1.21 million ETH valued at $5.6 billion—offloaded 19,461 ETH at an average price of $4,532.
Between Feb. 3 and April 7, the whales accumulated 103,543 ETH worth $229.7 million at an average purchase price of $2,219. This included a $42.2 million acquisition of 24,817 ETH at $1,700 in early April. On-chain records show the activity is spread across multiple wallets, hinting at a calculated strategy to both manage and obscure their massive holdings. The largest transfers have gone into Aave v3, a lending and borrowing protocol.
Short-Term Holders Lead ETH Profit-Taking
Ethereum is currently facing intensified selling pressure as short-term investors lock in gains with prices hovering around $4,600. Glassnode reported on Monday that these traders are realizing approximately $553 million in daily profits—well above the activity of long-term holders, who remain largely on the sidelines.
Even after a 43% rally in the past month, profit-taking levels remain 39% below last month’s peak, when ETH was near $3,500, Glassnode noted.
The Ethereum Foundation also joined in, selling 2,795 ETH worth $12.7 million in two transactions late Tuesday, reducing its holdings to just 99.9 ETH and 11.6 million DAI.
Bullish Sentiment Persists Among Some Investors
Despite the wave of selling, several prominent voices remain optimistic. Over the weekend, BitMEX co-founder and Bitcoin billionaire Arthur Hayes revealed he had re-entered the market, buying Ethereum just a week after selling $10.5 million worth at $3,507.
Crypto trader Yashasedu suggested ETH could surpass $8,500 if Bitcoin climbs to $150,000, based on historical bull market patterns where Ethereum’s market cap reached 30%–35% of Bitcoin’s. At the 35% mark, ETH could hit $8,656, while even a 21.7%–30% range would imply prices between $5,376 and $7,420.
This projection coincides with Ethereum’s total value locked (TVL) surpassing $90 billion and rising institutional demand. On Monday, spot Ether ETFs recorded an all-time high of $1.01 billion in daily net inflows, alongside news that BitMine Immersion Technologies plans to raise $20 billion for ETH purchases.
