Ethereum News Today: Ethereum Whale Group Sells $88.2M in 15 Hours Amid Profit-Taking Surge

A major Ethereum whale group, known in the blockchain community as “7 Siblings,” has dumped $88.2 million in ETH over a 15-hour period, raising concerns about potential market pressure from profit-taking activity. According to blockchain analytics from Lookonchain, the group holds approximately 1.21 million ETH, valued at $5.6 billion, and executed a sell-off of 19,461 ETH at an average price of $4,532 [1]. This recent move follows a significant accumulation phase between February 3 and April 7, during which the group bought 103,543 ETH for $229.7 million at an average price of $2,219 [1]. A large portion of this accumulation occurred in early April, when the group spent $42.2 million to acquire 24,817 ETH at $1,700 [1].

The sale activity appears to be managed across multiple wallets, suggesting a deliberate effort to obscure large movements and manage market impact. A significant portion of the ETH was deposited into Aave v3, a leading decentralized lending and borrowing platform [1]. The timing of the sell-off coincides with broader Ethereum profit-taking behavior, particularly among short-term holders. Data from Glassnode shows that short-term investors are realizing about $553 million in daily gains, a figure significantly higher than long-term holders’ activity [1].

The Ethereum Foundation also participated in the profit-taking trend, selling 2,795 ETH worth approximately $12.7 million as prices hit yearly highs. These sales, executed via a foundation-linked wallet late Tuesday, reduced the organization’s holdings to just 99.9 ETH and 11.6 million DAI [1]. Despite the bearish signals, some prominent figures in the crypto space remain bullish. Arthur Hayes, co-founder of BitMEX, recently re-entered Ethereum just a week after selling $10.5 million when the price was at $3,507 [1].

Looking ahead, some analysts project Ethereum could climb above $8,500 if Bitcoin reaches $150,000. This forecast is based on historical bull market trends where ETH’s market cap reached 30%–35% of Bitcoin’s [1]. If Ethereum were to maintain a 35% share of Bitcoin’s value at $150,000, the price could reach $8,656. Even at a lower range of 21.7%–30%, ETH could trade between $5,376 and $7,420 [1]. These projections assume continued growth in Ethereum’s total value locked (TVL), which has now exceeded $90 billion, and increasing institutional interest.

The broader market context includes record inflows into spot Ether ETFs, which registered $1.01 billion in daily net inflows. This surge coincided with BitMine Immersion Technologies announcing plans to raise $20 billion for Ethereum purchases [1].

The “7 Siblings” whale activity, along with broader profit-taking and institutional buying, highlights the complex and dynamic nature of the Ethereum market, where large movements can significantly influence price and investor sentiment. The recent sales signal caution among some of the largest holders, even as others see long-term value in the asset.

Source: [1] Whale holding $5.6B in ETH is selling, dumps $88M in 15 hours — (https://cointelegraph.com/news/eth-whale-7-siblings-dumps-88m-holds-5-6b-total)