Whale Drama: 7 Siblings Cash Out While Institutions Dive Deep into Ethereum!

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Ah, the illustrious Ethereum whale group, affectionately dubbed the “7 Siblings,” has decided to part ways with a staggering $88.2 million worth of ETH. One can only imagine the tears shed over this first major liquidation since they so joyfully amassed a princely sum of 1.21 million ETH. All this, of course, amidst a veritable flood of institutional inflows, record network activity, and prices that are flirting shamelessly with their all-time highs. 🐋💸

Large-Scale Liquidation

In a dramatic twist worthy of a Shakespearean play, the “7 Siblings” have sold 19,461 ETH, valued at approximately $88.2 million, all within a mere 15 hours. According to the ever-watchful blockchain analytics platform Lookonchain, this marks their first major sale since they hoarded a total of 1.21 million ETH, now worth a jaw-dropping $5.6 billion. The transactions were executed at an average price of $4,532, just as Ethereum teeters on the edge of its November 2021 all-time high of around $4,800. Talk about timing! ⏳

Accumulation History and Strategy

Between the dates of February 3 and April 7, this whale group indulged in a shopping spree, acquiring 103,543 ETH for a delightful sum of $229.7 million at an average price of $2,219. Among their most extravagant purchases was a $42.2 million acquisition of 24,817 ETH at a mere $1,700 in early April. One must admire their strategy of distributing assets across multiple wallets, a clever ruse to obscure their grand movements. They’ve even made significant deposits into Aave v3, a decentralized lending and borrowing protocol, because why not add a sprinkle of complexity to their already lavish lives? 💁‍♂️

Institutional Inflows

This sell-off, dear reader, occurs during a veritable feast of institutional demand. Ethereum exchange-traded funds (ETFs) have enjoyed six consecutive days of inflows, totaling a staggering $523.9 million on August 12, following a record-breaking $1 billion single-day inflow earlier in the month. Corporate treasuries now collectively clutch $16.4 billion worth of ETH across 64 companies, with BitMine Immersion Technologies leading the pack at 1.2 million ETH valued at $5.27 billion. Who knew corporate treasuries could be so… fashionable? 💼

In a delightful twist, the Ethereum Foundation also liquidated 2,795 ETH, worth about $12.7 million, in two transactions as prices reached their yearly highs. This sale has reduced the Foundation’s ETH holdings to a mere 99.9 ETH alongside 11.6 million DAI. A true minimalist approach, wouldn’t you agree? 🧐

The community’s reactions have been as mixed as a box of chocolates, with some viewing this as a strategic profit-taking maneuver, while others raise their eyebrows at the timing. Oh, the drama! 🎭

Network Activity and Market Sentiment

Short-term holders are currently basking in the glow of around $553 million in daily gains, significantly outpacing the activity of their long-term counterparts, according to Glassnode. Despite a 43% price surge over the past month, ETH remains a modest 39% below the previous month’s peak levels. A classic case of “close, but no cigar.” 🎉

Meanwhile, global search interest for “Ethereum” has reached its zenith since 2021, with North Macedonia, Switzerland, Singapore, Slovenia, and Austria leading the charge. Ethereum’s network has also hit a record 1.875 million daily transactions, underscoring a robust on-chain activity. It seems the world is abuzz! 🌍

While some large holders are cashing in their chips, others remain resolutely bullish. Over the weekend, BitMEX co-founder Arthur Hayes revealed that he had re-entered the market, purchasing Ethereum just a week after selling $10.5 million worth when the asset traded at $3,507. The divergence in strategies highlights the ongoing uncertainty over whether the current rally has further room to run or is primed for a correction. Ah, the sweet taste of uncertainty! 🍷

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2025-08-14 16:35