Whale Activity in Ethereum: Major Players Buy the Dip Amid Market Decline
The post Whale Activity in Ethereum: Major Players Buy the Dip Amid Market Decline appeared on BitcoinEthereumNews.com.
After a sharp downturn in the market, substantial numbers of large Ethereum holders have taken the opportunity to accumulate even more of the world’s second-largest cryptocurrency. This appears to be a clear signal of confidence in the long-term prospects of Ethereum, if not the broader crypto market. Recent large purchases in the whale community include the shadowy entity known as “7 Siblings,” which recently has dropped several million bucks to buy up additional ETH at what many believe are discounted prices. The Return of 7 Siblings: A Strategic Move After a significant price drop in the market, 7 Siblings, a prominent whale, has made a number of well-planned buys in Ethereum. With a giant $28.75 million worth of DAI (the decentralized stablecoin) spent, the whale picked up 12,070 $ETH at an average price of $2,382. This move adds even more to the whale’s already well-stocked portfolio and brings the whale’s total Ethereum holdings to an astounding 1.15 million $ETH, worth a staggering $2.8 billion at today’s market prices. After the market dropped, 7 Siblings spent 28.75M $DAI to buy 12,070 $ETH at $2,382 again. 7 Siblings holds a total of 1.15M $ETH($2.8B) in 2 wallets.https://t.co/ygfREDnaG8https://t.co/RytINqnBShhttps://t.co/vgGyimRHOf pic.twitter.com/EitzLdHwRc — Lookonchain (@lookonchain) February 25, 2025 Purchasing at such a large scale underscores 7 Siblings’ confidence in Ethereum, especially when one considers the recent market volatility. These kinds of transactions are typically seen as a sign of faith in the long-term fundamentals of Ethereum itself, particularly when it comes to institutional or high-net-worth investors making the purchase. Besides the 7 Siblings, other whales have been moving in the Ethereum market, making large buy orders following the price drop. In the last 24 hours, three wallets—probably all belonging to the same whale—have bought an additional 16,114 $ETH for $39.85 million, at an average price of…
Filed under: News - @ February 27, 2025 9:26 am