Ethereum Whale Sells $88M ETH in 15 Hours, Still Holds $5.6B

Ethereum Whale Offloads $88M ETH in Just 15 Hours

A mysterious Ethereum whale group called “7 Siblings” sold ETH worth $88.2 million in only 15 hours. Despite the massive sell-off, they still hold 1.21 million ETH, valued at around $5.6 billion.

Data from Lookonchain shows the sale included 19,461 ETH at an average price of $4,532. Between February 3 and April 7, the group bought 103,543 ETH totaling $229.7 million, at an average of $2,219 per ETH. One major purchase occurred in early April, when they added 24,817 ETH worth $42.2 million at $1,700 per ETH.

Transaction records indicate the whale operates multiple wallets to manage and obscure their holdings. The largest movements occurred when ETH entered Aave v3, a major crypto lending platform.

Short-Term Traders Lead Profit-Taking

Ethereum faces profit-taking pressure from short-term traders. ETH currently trades around $4,600. According to Glassnode, the group captured about $553 million in daily gains last Monday, far exceeding long-term holders who remain mostly passive.

Even with a 43% price rise in a month, profit-taking activity remains 39% below last month’s peak, when ETH approached $3,500.

The Ethereum Foundation also participated in selling. They offloaded 2,795 ETH worth $12.7 million during the yearly high. After two transactions on Tuesday night, their holdings dropped to just 99.9 ETH and 11.6 million DAI.

Despite selling pressure, bullish sentiment persists. Arthur Hayes, founder of BitMEX, revealed he repurchased ETH last weekend, after selling $10.5 million worth at $3,507 the previous week.

ETH Could Hit $8,600 If Bitcoin Reaches $150K

Crypto trader Yashasedu projects ETH could reach $8,500 if Bitcoin hits $150,000. He based this on historical bull market trends where Ethereum’s market cap typically reaches 30%–35% of Bitcoin’s.

At a 35% ratio, ETH could trade at $8,656. Lower ratios between 21.7%–30% suggest a range of $5,376–$7,420.

This forecast aligns with Ethereum’s TVL surpassing $90 billion and growing institutional interest. Notably, the ETH spot ETF recorded a daily net inflow of $1.01 billion last Monday. This coincided with BitMine Immersion Technologies raising $20 billion to buy more ETH.

Read more: Ethereum Poised to Break All-Time High: Is a New Record on the Horizon?