The Ethereum (ETH) whale group known as '7 Siblings' has reportedly sold a massive amount of Ethereum worth approximately 122.6 billion won over a 15-hour period. According to blockchain analysis firm Lookonchain, they sold a total of 19,461 ETH at an average price of $4,532 per token, securing a total of $88.2 million (approximately 122.6 billion won).
The '7 Siblings' hold approximately 1.21 million ETH, which is worth about $5.6 billion (approximately 7.784 trillion won) at current market prices. Their wallets are spread across multiple addresses, raising suspicions of a strategy to conceal large assets. Recent transaction records show that a significant amount of ETH was deposited into the Aave v3 DeFi platform.
Their accumulation history is also notable. According to Lookonchain, from February 3 to April 7, the group purchased about 103,543 ETH at an average buying price of $2,219, investing over $229.7 million (approximately 319.6 billion won). Particularly in early April, when Ethereum was priced at $1,700, they bought 24,817 ETH for $42.2 million (approximately 58.7 billion won).
Analysts suggest that this sell-off could be more than just profit-taking and might signal future market direction. An anonymous on-chain analyst stated, "This group's movements have often served as indicators of market peaks or directional shifts. Given their sophisticated distributed strategy and DeFi usage patterns, they are likely an institution or a highly organized entity rather than individual investors."
The movement of ETH through DeFi platforms instead of exchanges suggests an unconventional liquidity release strategy that could catch investors off guard. Investors sensitive to Ethereum's price movements should be on high alert for their actions.
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