- “7 Siblings” invested $66M in Ethereum during recent market dip.
- Previous purchases include $129.3M for 56,093 ETH at $2,305 average price.
In a remarkable show of confidence amid market volatility, the enigmatic group known as the “7 Siblings” has re-entered the spotlight, amassing significant Ethereum (ETH) holdings worth over $66 million. This latest acquisition of 28,120 ETH comes as part of a strategic buying spree during a recent dip in the cryptocurrency market, reinforcing the group’s reputation as a shrewd investor.
The “7 Siblings,” whose identity remains undisclosed, made headlines previously when they capitalized on the sharp market downturn on August 5. During this crash, the entity deployed an impressive $129.3 million in USD Coin (USDC) to acquire 56,093 ETH at an average price of $2,305 per coin. This strategic maneuver not only showcased their ability to navigate market turbulence but also positioned them as key players in the Ethereum ecosystem.
The mysterious "7 Siblings" with $2.2B assets is back, quietly buying 28,120 $ETH ($66M) during the recent dip!
— Spot On Chain (@spotonchain) October 3, 2024
Notably, in the August 5 crash, this entity spent 129.3M $USDC to purchase 56,093 $ETH at an average price of $2,305.
Recently, as the #Ethereum price crashed again,… pic.twitter.com/pxS4899Ast
Meanwhile, fast forward to the present, as Ethereum experienced another price drop, the group seized the opportunity once more. In the past 15 hours, they spent an additional $66 million in USDC to purchase 28,120 ETH at an average price of $2,350. This calculated investment reflects their steadfast belief in Ethereum’s long-term potential, even as broader market sentiments fluctuate.
Speculation Around Analysts Club
The most recent transaction occurred just 45 minutes ago, further emphasizing the group’s active engagement in the market. Their consistent buying pattern has led many analysts to speculate on their motives and the potential implications for the Ethereum price trajectory.
As the cryptocurrency landscape evolves, the actions of the “7 Siblings” will be closely monitored by investors and analysts alike. Their significant holdings and strategic purchases could signal a bullish outlook for Ethereum, making their next moves a focal point for the crypto community.
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