7 Siblings Group Begins Selling 19,461 ETH Worth $88.2 Million
The group known as 7 Siblings has begun selling its accumulated Ethereum holdings. Key points include:
- 7 Siblings holds 1.21 million ETH, valued at $5.6 billion.
- Recently sold 19,461 ETH for $88.2 million at an average price of $4,532.
- Earlier this year, purchased 103,543 ETH for $229.7 million at an average price of $2,219.
- This latest sale has resulted in a profit of approximately $250 million, with the total current value of their last purchase around $480 million.
Despite these sell-offs, ETH remains strong above $4,600. Recent data shows:
- US-based spot ETH exchange-traded funds saw a net inflow of $523.9 million on August 12.
- Total value locked (TVL) in decentralized finance increased by 5%, reaching $156.5 billion, the highest since April 2022.
- ETH is currently trading at $4,620, having risen 8% in the last 24 hours, with a local high of $4,678.