- A group of influential Ethereum whales, known as “7 Siblings”, has sold 19,461 ETH valued at US$88.2M in a 15-hour period, according to blockchain analytics.
- This is part of a deliberate asset management strategy; the group had previously accumulated over 103,543 ETH and is now moving funds through multiple wallets.
- The whale selling comes as Ethereum faces increased profit-taking from short-term holders and even the Ethereum Foundation.
An influential Ethereum whale network known as “7 Siblings” has unloaded roughly US$88.2M (AU$135M) in ETH over a 15-hour span, according to blockchain analytics firm Lookonchain.
The group, which still controls about 1,21 million ETH valued near US$5.6B (AU$8.55B), sold 19.461 ETH at an average price of US$4,532 (AU$6,922).
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Moreover, on-chain records show the network has been an active accumulator in recent months; between February 3 and April 7, they purchased 103.543 ETH for US$229M (AU$349M) at an average of US$2,219 (AU$3,390), including a notable early-April buy of 24.817 ETH worth US$42.2M (AU$64.4M) when prices hovered around US$1.7K (AU$2.5K).
Funds were moved through multiple wallets, with large transfers often deposited into Aave v3, a lending and borrowing protocol, suggesting a structured strategy to manage positions and obscure holdings.
More Pressure Incoming?
The sale comes as Ethereum faces heightened selling from short-term holders. Glassnode data shows these traders have been locking in about US$553M (AU$844M) in daily gains while long-term holders remain largely on the sidelines.
ETH is trading near US$4,600 (AU$7,020), up an impressive 43% in the past month, according to data from CoinGecko, but profit-taking volumes are still 39% below last month’s high when prices were closer to US$3,500 (AU$5,341).
Even institution-linked entities have joined the selling. The Ethereum Foundation moved 2.795 ETH, about US$12.7M (AU$19M), late Tuesday through a wallet tied to the organisation according to Lookonchain, reducing its balance to just 99,9 ETH and 11.6 million DAI.
Still, not everyone sees the rally as overextended. BitMEX co-founder Arthur Hayes said he had re-entered Ethereum only a week after cashing out US$10.5M (AU$16M) at US$3,507 (AU$5,354), which means that even high-profile traders are becoming bullish again on Ethereum.
Related: US Crypto ETFs See Record Flows, Now Make Up Half of New Fund Launches
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