“7 Siblings” Group Buys $28.75 Million Worth of Ethereum Amidst Crypto Market Crash!

Jakarta, Pintu News – The crypto market has sharply declined this week, and Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- is no exception. The crypto price fell 10% today, from a daily peak of $2,654 to $2,419. Check out the full news below!

Big Buys Amid Market Fears

This market downturn has created fear among investors, with many withdrawing their funds from various positions due to the pressure. However, some whales, especially the crypto whale group popularly known as the “7 Siblings”, see this as an opportunity to accumulate more tokens.

Lookonchain said the group recently spent “$28.75 million DAI to purchase 12,070 Ethereum (ETH) at $2,382 per coin. Currently, they have a total of 1.15 million Ethereum (ETH) worth $2.8 billion stored in two wallets. This strategy is very common among investors who buy assets when the price drops in the hope that the price will rise in the future.

Despite the drop in the price of Ethereum (ETH), trading volume is still performing well. Today, trading volume has increased by 78%, with most transactions coming from the Binance exchange.

Also read: Robinhood’s stock drops, CEO remains optimistic about crypto trading!

Purchasing History of “7 Siblings”

This is not the first time the group has made such a large purchase. On February 3, the “7 Siblings” bought a total of 50,429 Ethereum (ETH), which was worth about $126 million on that day. Prior to that, they also made similar transactions when the market bottomed out in August.

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This activity shows that the group is very active in capitalizing on any market downturns to strengthen its position in crypto assets. The consistency in the buying strategy during market downturns shows the high confidence of the “7 Siblings” in the long-term value of Ethereum (ETH).

It also signifies that they have an in-depth analysis of market movements, which allows them to act quickly and at the right moment.

Conclusion

Amidst market uncertainty, the actions of the “7 Siblings” group provide a different perspective on how large investors respond to price fluctuations.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto Times. Ethereum Whale: 7 Siblings Buys 28.75M ETH Amid Market Crash. Accessed on February 26, 2025
• Featured Image: Medium