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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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This Whale Makes $250M Profit in 3 Months, Now Selling ETH - Coinspeaker
Key Notes
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.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.