Ethereum Whale “7 Siblings” Sells $88M in 15 Hours Amid ETH Profit-Taking Surge

1. Ethereum Whale Group Offloads $88M in ETH

The mysterious Ethereum whale collective known as “7 Siblings” has recently sold $88.2 million worth of Ether over a 15-hour period. The group holds approximately 1.21 million ETH, valued at around $5.6 billion, and sold 19,461 ETH at an average price of $4,532, according to blockchain analytics platform Lookonchain in a recent post.

Between February 3 and April 7, “7 Siblings” acquired 103,543 ETH for $229.7 million, averaging $2,219 per ETH. This acquisition included a $42.2 million purchase of 24,817 ETH at $1,700 in early April.

Strategic Wallet Management

Transaction data indicates that the whale’s activity spans multiple wallets, signaling a calculated approach to managing large holdings. Notably, significant transfers were deposited into Aave v3, a popular lending and borrowing platform.

Short-Term Traders Lead ETH Profit-Taking

Ethereum is seeing renewed profit-taking, primarily driven by short-term holders as ETH trades near $4,600. On Monday, Glassnode reported that these traders realized approximately $553 million in daily gains, far surpassing long-term holders, who remain largely inactive.

Despite ETH’s 43% gain over the past month, current profit-taking levels are still 39% below last month’s peak, when prices hovered around $3,500.

Additionally, the Ethereum Foundation sold 2,795 ETH (worth ~$12.7 million) as prices reached yearly highs. Executed in two transactions, these sales reduced the foundation’s holdings to 99.9 ETH and 11.6 million DAI.

7 Siblings dumps ETH. Source: Lookonchain

Source: https://x.com/TedPillows/status/1955533343426265311

Bullish Signals Amid Profit-Taking

Some market participants remain optimistic. Arthur Hayes, BitMEX co-founder and Bitcoin billionaire, revealed he repurchased Ethereum after selling $10.5 million just a week earlier at $3,507 per ETH.

Crypto trader Yashasedu projected that Ether could surpass $8,500 if Bitcoin reaches $150,000, referencing historical bull market patterns where ETH’s market capitalization reached 30%–35% of Bitcoin’s.

• If ETH hits 35% of Bitcoin’s market cap at $150K, the price could reach $8,656.

• At a lower range of 21.7%–30%, ETH might trade between $5,376 and $7,420.

This projection aligns with Ethereum’s Total Value Locked (TVL) exceeding $90 billion and increasing institutional interest.

Record ETF Inflows Highlight Growing Demand

Spot Ether ETFs recorded a record $1.01 billion in daily net inflows on Monday, coinciding with BitMine Immersion Technologies announcing plans to raise $20 billion for ETH purchases.

Conclusion

Ethereum continues to experience significant short-term profit-taking, yet the market’s long-term bullish indicators—rising institutional interest, growing TVL, and strong ETF inflows—suggest potential upside for ETH. Analysts remain watchful, especially in relation to Bitcoin’s price trajectory, which could propel Ethereum above $8,500 in the next bull cycle.

Related: Massive ETH Exit: Will Ethereum Plunge to $2,800 This Week?