Whaling Activity By 7 Siblings & 0x267e…f91e Might Affect ETH Ecosystem

The world of cryptocurrency is like uncharted seas. Like the sea, the waters of the crypto community are also riddled with whales. Rhetoric aside, crypto whales are entities, individuals, or organizations that hold large amounts of certain currency.

However, not everyone qualifies to be a whale. Entities that hold at least 10% of the total market are considered to be whales. Whales are influential entities as their buy-ins or selling-offs can trigger a massive influx or dearth of shares. 

One such whale is the entity called 7 Siblings. The entity has singlehandedly managed to pick up thousands of ETH shares discreetly. As a result, it sent shockwaves down the ETH community.

Transaction Details 

As per data from Lookonchain, 7 Siblings quietly purchased around 56,000 ETH tokens. The cumulative worth of these tokens was around $129.3 million at the time of acquisition. Recently, the revised Tariff detail shared by Trump has put the crypto community in a frenzied state.

As a result, many investors started panic liquidation, leading to the over-saturation of crypto tokens in the market. This affected not just the ecosystem but also the pricing of these coins. As a result, the overall pricing of these coins cascaded. 

7 Siblings saw an opportunity and picked up around 56,093 ETH at an average cost of $2,305. The entity started buying when the price was at $2,600 and continued buying till the price dropped to $2,191. 

This accumulation spree lasted 12 hours and had a cumulative valuation of around 129.3 million USD.

The Strategic Purchase 

Many experts believe that this practice was equivalent to an aberration. As a result, the massive acquisition of the coin has been studied by forums like Lookonchain. The recent financial situation due to Trump’s new tariff plan has already made people concerned. 

However, 7 Siblings saw this as an opportunity for acquisition, and they went for it. They have collectively picked up around 56,000 ETH at a base rate of just 2,300 USD.

Data from Arkham Intelligence suggests that the organization currently holds around $259.35 million worth of digital currencies like MKR, WNXM, and many more. Therefore, 7 siblings are among the most noteworthy whales of the current time.

The End Note: Other Whales In The Water 

It would be wrong to assume that 7 Siblings was the only whale in the water. Many other crypto entities saw this as an opportunity and decided to get on the bandwagon. Data shared by Lookonchain suggests that there were four other whales in the market.

All the whales collectively purchased around 144,071 ETHs valued at around $331.11 million. Second to 7 Siblings was the unlabelled address called the 0x267e…f91e, which collected 44,653 ETH for $101.97.

Given the overall scale of the whale activity, it will be interesting to see how the market would react. Subsequently, if there is any major surge following this event.