Well, I say, old bean, it appears the enigmatic Ethereum whale collective, known as the “7 Siblings” (a name that sounds more like a forgotten Dickensian novel than a financial powerhouse), has been rather busy. In a move that would make even the most seasoned Jeeves raise an eyebrow, they’ve offloaded a cool $88.2 million worth of Ether in the past 15 hours. 🕰️💸
These chaps, sitting on a staggering 1.21 million Ether (ETH), valued at a jaw-dropping $5.6 billion, have sold 19,461 ETH at an average price of $4,532. So says the ever-watchful blockchain analytics platform Lookonchain, in a Wednesday post on X. Quite the kerfuffle, what?
Between February 3 and April 7, these financial wizards acquired 103,543 ETH for $229.7 million at an average price of $2,219. Among their hauls was a $42.2 million purchase of 24,817 ETH at $1,700 in early April. Blimey, that’s enough to make one’s head spin faster than a tipsy uncle at a wedding! 🥂
Their transactions, scattered across multiple wallets like breadcrumbs at a picnic, suggest a deliberate strategy to manage and obscure their colossal holdings. The largest movements? Oh, just a casual deposit into Aave v3, a lending and borrowing platform. Nothing to see here, move along. 🚀
Short-term ETH holders: The Profit-Taking Brigade
Ethereum, poor dear, is facing renewed profit-taking pressure, with short-term holders leading the charge as ETH trades around $4,600. Glassnode reports that these chaps are realizing about $553 million in daily gains, leaving long-term holders in the dust. Those stalwarts remain relatively inactive, cashing out at levels last seen in December 2024. 🤑
Despite being up 43% over the past month, ETH’s current profit-taking levels are still 39% below last month’s peak, when prices were near $3,500. Glassnode says so, and who are we to argue with the numbers? 📉
Even the Ethereum Foundation got in on the action, selling 2,795 ETH worth roughly $12.7 million as prices hit yearly highs. Two transactions late Tuesday via a linked wallet reduced their holdings to a mere 99.9 ETH and 11.6 million DAI. Talk about a fire sale! 🔥
But fear not, for all is not doom and gloom. BitMEX co-founder and Bitcoin billionaire Arthur Hayes has bought back into Ethereum just a week after selling $10.5 million when it was trading at $3,507. A man of whimsy, that one. 🎢
ETH at $8,600? Don’t Mind If I Do!
Crypto trader Yashasedu, ever the optimist, believes Ether could climb above $8,500 if Bitcoin reaches $150,000. He cites historical bull market trends where ETH’s market cap reached 30-35% of Bitcoin’s. If ETH were to match 35% of Bitcoin’s value at $150,000, the price could hit $8,656. Even at a lower range of 21.7-30%, ETH could trade between $5,376 and $7,420. Cheers to that! 🥳
This rosy projection comes as Ethereum’s total value locked (TVL) exceeds $90 billion and institutional interest grows. Spot Ether ETFs registered a record $1.01 billion in daily net inflows on Monday. And BitMine Immersion Technologies? They’re planning to raise $20 billion for ETH purchases. Blimey, that’s enough to make a chap’s head spin! 💼💰
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2025-08-13 11:07