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The ETH ecosystem has just staged a thrilling performance of Whale drama. A mysterious group "7 Siblings" crazily dumped 19,461 ETH within 15 hours, worth up to 88.2 million USD, with an average selling price of 4,532 USD.
What is the "7 Siblings" all about? They are definitely one of the most mysterious whales in the crypto world, operating through multiple wallet addresses, holding ETH worth approximately $5.6 billion in total. Even more impressive is that their cost price was only $2,219, and this dump directly resulted in profits exceeding 50%.
The key is the timing of the dumping. Currently, the price of Ethereum is $4,786, just a few dollars away from the historical high of $4,868. Large-scale dumping near such critical technical levels either indicates a deep understanding of technical analysis or concerns about short-term trends.
But don't rush to panic. Although they have dumped so much, the "7 Siblings" still hold 1.21 million ETH, indicating that they remain bullish on the long-term value of Ethereum. This kind of operation resembles taking profits at key technical levels rather than being bearish on the market.