Ethereum Whale Disposes of $88M in ETH, Impacting Market Volatility

A significant Ethereum (ETH) sale by a prominent whale group known as ‘7 Siblings’ has shaken the market, raising concerns about short-term profit-taking and potential ripple effects across various DeFi protocols and Layer 2 assets. Over a 15-hour period, this mystery collective transferred $88 million in ETH to different wallets, still holding a substantial $5.6 billion worth of the cryptocurrency. This move coincided with ETH nearing $4,600, impacting futures markets and Total Value Locked (TVL) metrics.