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.
7 Siblings dumps ETH. Source: Lookonchain
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.
Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’
