Ethereum Whale Collective Dumps $88 Million in Major Selloff

7 Siblings Whale Group Executes Massive ETH Sale

The mysterious Ethereum whale collective known as "7 Siblings" has executed a significant selloff, offloading $88.2 million worth of Ether over the past 15 hours. This massive transaction has caught the attention of crypto analysts and market watchers worldwide.

The whale group, which holds approximately 1.21 million Ether valued at $5.6 billion, sold 19,461 ETH at an average price of $4,532 per token. Blockchain analytics platform Lookonchain revealed these details in their latest market analysis.

Historical Accumulation Strategy Reveals Massive Profits

Between February 3 and April 7, the whale group strategically acquired 103,543 ETH for $229.7 million at an average price of $2,219. This accumulation strategy has proven highly profitable, with the group's most notable purchase being $42.2 million worth of 24,817 ETH at $1,700 in early April.

The substantial difference between their average purchase price of $2,219 and the current selling price of $4,532 demonstrates the group's successful timing and market positioning.

Multi-Wallet Strategy Suggests Sophisticated Operation

Transaction records reveal the whale's activity spans multiple wallets, indicating a deliberate strategy to manage and obscure large holdings. This sophisticated approach suggests institutional-level operations rather than individual retail trading.

The largest movements show ETH being deposited into Aave v3, a popular decentralized lending and borrowing platform, indicating potential yield farming or liquidity provision strategies beyond simple buy-and-hold tactics.

Short-Term Holders Drive Current Market Pressure

Ethereum currently faces renewed profit-taking pressure, with short-term holders leading the charge as ETH trades around $4,600. Recent data shows these investors are realizing approximately $553 million in daily gains, significantly outpacing long-term holders who remain relatively inactive.

Despite Ethereum's impressive 43% gain over the past month, current profit-taking levels remain 39% below last month's peak when prices hovered near $3,500.

Ethereum Foundation Joins Selling Activity

The Ethereum Foundation has also participated in recent selling activity, offloading 2,795 ETH worth approximately $12.7 million as prices reached yearly highs. These sales, executed through two transactions via a foundation-linked wallet, reduced their holdings to just 99.9 ETH and 11.6 million DAI.

This institutional selling adds to the overall market pressure, though it represents a small fraction compared to the whale collective's activities.

Market Outlook Remains Bullish Despite Selling Pressure

Despite the significant selling pressure, some market participants remain optimistic about Ethereum's future prospects. BitMEX co-founder Arthur Hayes recently re-entered his Ethereum position just one week after selling $10.5 million worth when ETH was trading at $3,507.

ETH Price Predictions Suggest Significant Upside Potential

Crypto trader Yashasedu has projected that Ether could climb above $8,500 if Bitcoin reaches $150,000, based on historical bull market trends where ETH's market cap reached 30% to 35% of Bitcoin's market capitalization.

If ETH were to match 35% of Bitcoin's market cap at $150,000, the price could potentially hit $8,656. Even at a more conservative range of 21.7% to 30%, ETH could trade between $5,376 and $7,420.

Institutional Interest Continues to Grow

The bullish outlook is supported by growing institutional interest and infrastructure development. Ethereum's total value locked has exceeded $90 billion, demonstrating continued confidence in the ecosystem's utility and growth potential.

Spot Ether ETFs registered a record $1.01 billion in daily net inflows recently, coinciding with BitMine Immersion Technologies' announcement of plans to raise $20 billion for ETH purchases.

Market Impact and Future Implications

The 7 Siblings whale group's selling activity represents a significant market event that could influence short-term price action. However, the group's substantial remaining holdings of $5.6 billion suggest continued long-term confidence in Ethereum's prospects.

As the cryptocurrency market continues to mature, whale watching has become an essential tool for understanding potential price movements and market sentiment. The sophisticated multi-wallet strategies employed by groups like 7 Siblings indicate the growing institutional nature of large-scale crypto holdings.

The combination of institutional selling pressure and record ETF inflows creates an interesting dynamic that will likely shape Ethereum's price action in the coming weeks and months.

For more Crypto, Web3, Blockchain & AI news visit : www.metamoonmedia.com