Whale holding $5.6B in ETH is selling, dumps $88M in 15 hours
Main Idea
The Ethereum whale group '7 Siblings' sold $88.2 million worth of ETH in 15 hours, while short-term traders are taking profits, but some remain bullish on Ethereum's future price potential.
Key Points
1. The '7 Siblings' whale group sold 19,461 ETH ($88.2M) at an average price of $4,532, while holding 1.21M ETH ($5.6B) in total.
2. Between Feb. 3 and April 7, the group acquired 103,543 ETH for $229.7M at an average price of $2,219, including a $42.2M purchase in early April.
3. Short-term ETH holders are realizing $553M in daily gains, with profit-taking levels still 39% below last month's peak.
4. The Ethereum Foundation sold 2,795 ETH ($12.7M), reducing its holdings to just 99.9 ETH.
5. Some remain bullish, with predictions that ETH could reach $8,656 if Bitcoin hits $150,000, based on historical market trends.
6. Ethereum's TVL exceeds $90B, and spot Ether ETFs saw record $1.01B in daily net inflows.
Description
Ethereum whale group “7 Siblings” has sold $88.2 million in ETH within 15 hours as short-term traders lock in profits.
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