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This Whale Makes $250M Profit in 3 Months, Now Selling ETH

19h ago
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7 Siblings, a mysterious group that’s been accumulating Ethereum ETH $4 622 24h volatility: 7.1% Market cap: $557.90 B Vol. 24h: $60.12 B for over five years, has started selling, according to Lookonchain. The market analytics firm wrote in an X post that 7 Siblings, with a total of 1.21 million ETH tokens, worth $5.6 billion at the current price range, started swapping Wrapped ETH to USDC USDC $1.00 24h volatility: 0.0% Market cap: $66.29 B Vol. 24h: $14.64 B .

The mysterious group, or as some refer to it as a fund, has sold 19,461 ETH at an average price of $4,532 for a total of $88.2 million since Aug. 12.

Most notably, 7 Siblings purchased 103,543 ETH at $2,219 per token on average for $229.7 million between Feb. 3 and April 7. The group’s last purchase alone brought it a profit of roughly $250 million . Its latest ETH purchase is now worth approximately $480 million.

All-Time High, When?

The leading altcoin remains strong above the $4,600 mark despite the 7 Siblings’ sell-off and the potential negative impact on retail traders.

US-based spot ETH exchange-traded funds recorded a net inflow of $523.9 million on Aug. 12, led by ETHA’s $318.7 million inflows, according to Farside Investors data.

Moreover, the decentralized finance total value locked gained another 5% over the past 24 hours, reaching $156.5 billion. This is the highest TVL recorded since April 2022. Ethereum is leading the ecosystem with a TVL of over $96 billion.

ETH is up 8% in the past 24 hours and is currently trading at $4,620. The king altcoin briefly touched a local high of $4,678 earlier today.

The post This Whale Makes $250M Profit in 3 Months, Now Selling ETH appeared first on Coinspeaker.

19h ago
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