Ethereum Whale Group Dumps $88M in ETH Amid Profit-Taking Surge

A prominent Ethereum whale collective, known in crypto circles as “7 Siblings,” has sold $88.2 million worth of Ether (ETH) in just 15 hours. Their move is fueling discussions about growing profit-taking pressure in the market.

Lookonchain, a blockchain analytics platform, said that the group sold 19,461 ETH for an average price of $4,532. Even if they sold a huge sum, the whale still owns about 1.21 million ETH, which is worth about $5.6 billion. Their actions affect more than one wallet, which suggests that they are carefully hiding and managing their big assets. The majority of ETH has been moved to the Aave v3 lending platform, which could mean that people are trying to make money by lending it out or using it as collateral.

Ethereum Whale “7 Siblings” Sells $88 Million in ETH

The recent sales come after months of accumulation. Between February 3 and April 7, “7 Siblings” acquired 103,543 ETH for $229.7 million at an average price of $2,219. In early April, they spent $42.2 million to buy 24,817 ETH at $1,700. These actions show that whales can buy in at the right time and then make money when prices go up.

A lot of short-term holders have sold their Ethereum since it went up to almost $4,600. Glassnode data shows they’ve been realizing roughly $553 million in daily gains, outpacing the largely inactive long-term holders. While ETH has been up 43% over the past month, current profit-taking levels are still 39% below the recent peak when ETH traded at nearly $3,500, a sign that some traders are still holding out for higher prices.

Even the Ethereum Foundation joined in, selling 2,795 ETH worth $12.7 million late Tuesday. This reduced its ETH reserves to just 99.9 ETH alongside 11.6 million DAI.

Despite the selling spree, bullish sentiment persists. BitMEX co-founder Arthur Hayes revealed he bought back into ETH over the weekend, just a week after selling $10.5 million worth when it was at $3,507. Market analysts like Yashasedu project that ETH could soar past $8,500 if Bitcoin reaches $150,000, citing historical patterns where Ethereum’s market cap has reached 30–35% of Bitcoin’s.

On Monday, spot Ether ETFs saw a record $1.01 billion in daily net inflows, which adds to the optimistic case. There is also more interest from institutions. BitMine Immersion Technologies has ambitions to raise $20 billion to buy ETH. Ethereum's total value locked has now gone above $90 billion, which shows how strong it is in the DeFi space.

The fight between whales who want to make money and institutions that want to build up their holdings shows how the market is at a crossroads right now, as short-term selling pressure meets long-term optimism.