Ethereum News Today: Mysterious Whale Group Dumps 19,461 ETH Worth $88.2M in 15 Hours

Ethereum faced a significant market event as a mysterious whale group known as “7 Siblings” offloaded 19,461 ETH—worth approximately $88.2 million—in just 15 hours, according to on-chain analytics from LookOnChain [1]. This marked the first major liquidation from the group's 1.21 million ETH holdings, valued at $5.6 billion. The ETH was sold at an average price of $4,532, raising questions about the sustainability of Ethereum’s recent price rally. The group had previously accumulated 103,543 ETH between February and April 2025 at an average of $2,219 per token.

At the time, Ethereum traded near $4,600—just 5% below its all-time high set in November 2021—amid record corporate adoption and significant inflows into Ethereum-based ETFs [1]. On August 12, Ethereum ETFs recorded their sixth consecutive day of inflows, totaling $523.9 million, following a historic single-day inflow of $1 billion. Corporate Ethereum treasury holdings had also surged to $16.4 billion across 64 entities, with BitMine Immersion Technologies holding 1.2 million ETH valued at $5.27 billion [1].

Meanwhile, data from Glassnode revealed that short-term ETH holders were actively cashing out, realizing approximately $553 million in daily profits, while long-term holders remained relatively inactive [1]. In addition to the “7 Siblings,” the Ethereum Foundation also sold 2,795 ETH—worth $12.7 million—at price highs, reducing its holdings to just 99.9 ETH and 11.6 million DAI [1]. The move was met with mixed reactions from the community, with some labeling it as profit-taking at peak prices.

Global search interest for “Ethereum” has reached its highest level since 2021, according to Google Trends, with countries like North Macedonia, Switzerland, and Singapore showing the most engagement [1]. The Ethereum network also set a record for daily transactions, reaching 1.875 million. This activity has been accompanied by a drop in gas fees to $0.53, a historical signal of heightened on-chain activity.

Technical indicators suggest Ethereum is undergoing a historic breakout. The ETH/BTC ratio broke out of an 8-year triangular consolidation pattern, and Ethereum completed its fifth major parabolic cycle with increasingly higher peaks and lows [1]. Analysts have noted that similar historical breakouts have led to 54x price gains in previous cycles, with the potential for further gains if institutional demand continues. Immediate price targets are seen between $5,000 and $6,000, while long-term projections suggest a possible move toward $10,000–$15,000, assuming sustained institutional demand and a continuation of the breakout pattern [1].

Despite the whale sell-off, Ethereum’s market capitalization reached $523 billion, surpassing Mastercard’s valuation of $519 billion. ETF inflows, particularly through BlackRock’s ETHA and Fidelity’s FETH, continue to signal strong institutional backing, with cumulative inflows reaching $10.806 billion and $2.797 billion respectively [1].

The “7 Siblings” dump highlights the influence of large holders in the crypto market and raises concerns about whether institutional profit-taking could impact Ethereum’s ongoing rally. However, technical indicators and continued corporate adoption suggest that the upward momentum may persist, despite short-term volatility from whale activity.

Source: [1] Mysterious ‘7 Siblings’ Whale Group Dumps $88M Worth of ETH in 15 Hours – Ethereum Price Rally Over? (https://cryptonews.com/news/mysterious-7-siblings-whale-group-dumps-88m-eth-in-15-hours-from-5-6b-holdings-eth-rally-over/)