"Ethereum Whale Liquidates $2M Position; Another Trader Timely Moves $228M to Exchange; '7 Siblings' Buys $14.5M Dip"

Two weeks ago, a large Ethereum (ETH) holder, often referred to as a "whale," liquidated their position, resulting in an estimated loss of $2.084 million. The whale had purchased ETH at an average price of $3273, but the market correction led to a significant decrease in the cryptocurrency's value.

Meanwhile, blockchain tracking firm Lookonchain reported that another savvy trader moved a massive amount of ETH to a crypto exchange right before the severe market correction. According to Lookonchain, an anonymous trader suddenly woke up after six years to move 77,736 ETH valued at $228.6 million at the time to crypto exchange Bitfinex ahead of Ethereum’s plummet to around $2,100 this weekend.

Lookonchain also reported that some crypto whales are buying Ethereum’s dip, including an entity known as “7 Siblings.” The entity bought 5,382 ETH ($14.5 million) during the market crash, adding to their previous purchases of 50,429 ETH ($126 million) on Monday. This is not the first time “7 Siblings” has bought a large amount of ETH at the bottom of the market.

While the market correction has led to significant losses for some investors, others have seen it as an opportunity to accumulate more ETH at lower prices. As of writing, ETH is trading for $2,883, up 1.1% in the last 24 hours.