Thomas Daniels
A prominent Ethereum whale collective, known in blockchain circles as “7 Siblings,” has liquidated $88.2 million worth of Ether in just 15 hours, fueling market discussions over renewed profit-taking pressure.
According to blockchain analytics platform Lookonchain, the group still controls approximately 1.21 million ETH—valued at $5.6 billion at current market prices of around $4,663. The latest transactions saw 19,461 ETH sold at an average of $4,532 each.
Between February 3 and April 7, “7 Siblings” accumulated 103,543 ETH for $229.7 million, with an average acquisition price of $2,219. Notably, the whales purchased 24,817 ETH in early April for $42.2 million at $1,700 per coin. Transaction history indicates activity across multiple wallets, with sizable deposits into Aave v3, suggesting a strategic approach to managing and obscuring holdings.
Short-Term Holders Drive Market Selling
Glassnode data shows short-term Ethereum investors have been realizing $553 million in daily profits—significantly outpacing long-term holders, who remain largely inactive. Despite ETH rallying 43% over the past month, current realized gains remain 39% lower than the profit-taking peak last month, when ETH traded near $3,500.
The Ethereum Foundation also participated in recent sales, offloading 2,795 ETH worth $12.7 million late Tuesday. The transactions reduced the foundation’s on-chain holdings to just 99.9 ETH and 11.6 million DAI.
Bullish Sentiment Persists
Despite heavy selling, bullish sentiment remains. Over the weekend, BitMEX co-founder Arthur Hayes disclosed that he had repurchased Ethereum, just a week after selling $10.5 million worth at $3,507.
Crypto trader Yashasedu projects ETH could climb to $8,656 if Bitcoin reaches $150,000, based on historical cycles where Ether’s market capitalization has reached 30%–35% of Bitcoin’s. Even at a more conservative 21.7%–30% ratio, ETH could trade between $5,376 and $7,420.
Ethereum’s fundamentals also remain strong, with total value locked (TVL) surpassing $90 billion and institutional demand rising. Spot ETH ETFs saw record daily net inflows of $1.01 billion on Monday, while BitMine Immersion Technologies announced plans to raise $20 billion for Ether purchases.
