A major Ethereum whale group holding over $5.6 billion in Ether has sold $88.2 million worth of tokens in just 15 hours, intensifying short-term profit-taking pressure on the market.
Blockchain analytics firm Lookonchain revealed that the “7 Siblings” collective — which controls around 1.21 million ETH — sold 19,461 ETH at an average price of $4,532. The group’s wallets show a pattern of distributing holdings across multiple addresses, with substantial deposits made into Aave v3, a decentralized lending and borrowing platform.
Between Feb. 3 and April 7, the whale group accumulated 103,543 ETH for $229.7 million at an average of $2,219 per token. This included a notable $42.2 million purchase of 24,817 ETH at $1,700 in early April. The latest sale marks one of the group’s largest recent liquidations.
Market analysts suggest the move aligns with a broader wave of short-term traders locking in gains as Ethereum trades near $4,600. According to Glassnode, these investors are realizing $553 million in daily profits, overshadowing activity from long-term holders.
Additional Selling Pressure from Institutions
Adding to the selling momentum, the Ethereum Foundation sold 2,795 ETH worth approximately $12.7 million late Tuesday, reducing its ETH holdings to just 99.9 ETH alongside 11.6 million DAI.
Despite the heavy selling, some industry figures remain optimistic. Over the weekend, BitMEX co-founder Arthur Hayes revealed he had repurchased Ethereum after selling $10.5 million worth at $3,507 just a week earlier.
With Ethereum’s total value locked (TVL) surpassing $90 billion and institutional interest growing, the recent whale sell-off may represent short-term volatility rather than a reversal of the broader bullish trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.