Ethereum Whale: 7 Siblings Offload 19K ETH in Big Sell-Off

As the ETH price is poised to hit its all-time high of $4,890, a mysterious ETH Crypto giant has made headlines with a massive sell-off. As notified by Lookonchain, the enigmatic Ethereum whale, '7 Siblings,’ has sold 19,461 tokens at an average price of $4,532.

Ethereum Whale’s Big ETH Move Sparks Speculation

Earlier today, Lookonchain shared an X post , shedding light on a mysterious trader's massive altcoins sale. According to Lookonchain, the group known as ‘7 siblings’ has sold 19k altcoins, valued at $88.2 million, over the past 15 hours.

Notably, the group holds a staggering 1.2 million Altcoins, worth $5.6 billion. In last year's August 5 market crash, the entity made a bold move by acquiring 100,000 coins at around $2,270. Between February 3 and April 7 this year alone, the group acquired 103,543 tokens worth around $229 million, at an average purchase price of $2,219.

Since this high-profile Altcoin Crypto giant entered the crypto space in 2024, it's been making waves. The group's 100,000 coin purchase at the dip let the entity cash in on the cryptocurrency's later price recovery, snagging a big chunk of the digital asset.

Significantly, the latest development comes on the heels of 7 Siblings’ $47 million transaction. After moving this subsequent amount of altcoin to a new wallet, the Ethereum whale sold about $17.2 million worth of tokens. This move's got the crypto community buzzing, with observers speculating on the reasons behind it and what it might mean for the market.

These huge transactions and sell-offs suggest a planned strategy- a common tactic seen among big altcoin holders. The 7 Siblings’ move seems to be a part of a bigger portfolio or liquidity play. This lines up with how major crypto holders typically behave, adjusting their positions based on market conditions or investment goals.

Ethereum Whale: Will ETH Price Hit Its ATH?

Interestingly, the Ethereum whale’s altcoin sale has caught intense attention, especially because of its timing. This coincides with its price’s bullish rally, with analysts predicting a new all-time high . As market analyst Ali predicted, if the ETH price breaks past the $4,300 level, its next target could be $5,300.

At press time, the cryptocurrency is trading at $4,619, up 7.26% in a day. The altcoin has also seen a remarkable surge of 27% in a week and 52% in a month. The trading volume has also increased by a remarkable 42% over the past 24 hours, now at $63.2 billion.