Blockchain analytics platform Lookonchain reported that a major investor, known as "7 Siblings," sold 14,000 $ETH for $32.85 million at an average price of $2,346. This account has been tracked by on-chain market analysts since 2024 due to its characteristic pattern: buying $ETH during sharp declines and then taking profits through large, coordinated transfers.
At its peak, this entity's assets were valued at approximately 1.15 million $ETH worth about $2.8 billion, although its position has fluctuated significantly as the wallet shifted between accumulation and distribution phases. In August 2025, this organization was recognized as an "Ethereum billionaire" after transferring $47 million worth of $ETH to a new wallet and then selling most of it within minutes.
Friday's sale fits the same pattern, with the swing trader apparently locking in decent profits rather than fully exiting the position (at least, based on this entity's trading history).
Second "Whale" Joins the Exit
A few hours later, another wallet, 0xFD10, sold 11,252 stETH for $26.5 million and an additional 1,824 $ETH for $4.26 million, resulting in total proceeds of $30.78 million in USDT. Staked ether (stETH) is a liquid staking token representing $ETH staked with Lido Finance, the largest Ethereum staking protocol, which can be traded or used in decentralized finance (DeFi) while the underlying $ETH remains locked.
Unlike 7 Siblings, which has a long history of public trading, the 0xFD10 wallet has not been extensively analyzed by on-chain analytics platforms before, and the motives for its market exit remain unclear.
Following the sales, $ETH continued trading around the $2,350 mark, a sharp jump from its price just hours earlier when it traded at $2,286.60. The average selling price indicated in transactions from both wallets ranged from $2,334 to $2,354 per coin.
Broader Selling Trend
Bitcoin.com News recently reported that another major Ethereum holder capitulated after three years of staking, incurring losses exceeding $19 million on one position earlier this month. Other large holders have also been cashing out during the 2026 rally, including one wallet that sold 55,000 $ETH and 9,442 wstETH for a total of $136 million in May.
All these actions appear to indicate that both long-term holders and swing traders view the rally and local price stability as opportunities to reduce positions, even though some of these same entities have historically bought coins back during subsequent dips.
Despite Friday's sale, 7 Siblings remains one of the largest known $ETH-holding wallets, and its past behavior suggests that if the price of $ETH diverges sharply from current levels, further large transactions in either direction are likely.
Finally, a significant break below the $2,300 level amid continued selling by "whales" would bring the $2,000 zone back into focus. However, a sustained bounce would suggest that Friday's sales were merely profit-taking rather than the start of a deeper distribution phase.
end-content
