The Enigmatic '7 Siblings” Quietly Accumulate More Ethereum (ETH) During Recent Market Downturn

This entity purchased 28,120 ETH, worth approximately $66 million, at an average price of $2,350 in the last 15 hours.

A mysterious entity, known as the “7 Siblings,” has quietly amassed a substantial amount of Ethereum during the recent market downturn.

According to on-chain data, the group purchased 28,120 ETH, valued at approximately $66 million, at an average price of $2,350 in the last 15 hours. This activity has drawn attention, as the entity continues to capitalize on price dips.

The “7 Siblings” are known for their large-scale crypto acquisitions, particularly during market downturns. In August, during a significant market crash, the group spent $129.3 million in USDC to purchase 56,093 ETH at an average price of $2,305, demonstrating a consistent strategy of accumulating large amounts of Ethereum when the market weakens.

Meanwhile, an Ethereum Initial Coin Offering (ICO) participant has sold off significant amounts of ETH.

Over the past two days, the participant sold 19,000 ETH, totaling $47.54 million. Notably, the participant initially received 150,000 ETH during the ICO at a cost of just $46,500. Today, that allocation is valued at around $358 million.

Another Top Whale Sells Off 5,000 ETH

In related whale activity, another major player sold 5,000 ETH for $11.74 million today.

This whale has withdrawn 17,135 ETH ($39.75 million) from staking since March 12, while depositing 16,750 ETH, valued at $53.66 million, into Kraken over the same period.

On October 2, institutional inflows into Ethereum-related products reflected strong interest, with Ethereum spot ETFs seeing a net inflow of $14.45 million, and BlackRock’s ETF ETHA receiving an inflow of $18.04 million.

As Ethereum prices fluctuate, large-scale players continue to influence the market with their significant buy and sell moves, signaling that big bets are being placed on the future of ETH.

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