Ethereum whale offloads $88M as Trump-backed altcoin investment heats up

An Ethereum whale group dubbed the “7 Siblings” unloaded $88.2 million in ETH within 15 hours, sparking fresh debate over large-holder influence and redirecting market attention toward Trump-backed altcoin investment strategies.

Blockchain data from Lookonchain reveals the group, which controls approximately 1.21 million ETH valued at $5.6 billion, offloaded 19,461 ETH at an average price of $4,532. These transactions, spread across multiple wallets, indicate a deliberate strategy designed to manage and obscure the group’s vast positions. Some of the largest transfers were directed into Aave v3, a decentralized lending and borrowing platform.

Between February 3 and April 7, the whale group had accumulated 103,543 ETH for $229.7 million at an average price of $2,219. This included a notable early April purchase of 24,817 ETH for $42.2 million at $1,700 — a position now sitting on significant unrealized gains.

“The scale of this movement is a reminder of how quickly large players can shift market dynamics,” — Samuel Lee, senior analyst at CryptoMarkets Insight. “For some investors, these events renew interest in diversifying into other high-profile plays, including the Trump-backed altcoin investment.”

Profit-taking intensifies among short-term holders

Ethereum’s rally over the past month — a 43% price surge — has been met with heightened selling pressure from short-term traders. Data from Glassnode indicates that these traders have been realizing around $553 million in daily profits, far exceeding activity from long-term holders who have largely stayed on the sidelines.

While ETH currently trades near $4,600, profit-taking levels remain 39% below the last peak seen when Ethereum was priced around $3,500. Nevertheless, the trend has caught the attention of seasoned market participants.

Adding to the selling pressure, the Ethereum Foundation itself sold 2,795 ETH worth about $12.7 million in two late Tuesday transactions, reducing its holdings to just 99.9 ETH and 11.6 million DAI.

“Foundation sales often get interpreted as a signal to take profits,” — Martina Gomez, portfolio strategist at BlockWave Capital. “However, others see it as routine treasury management, especially in a market increasingly shaped by narratives like the Trump-backed altcoin investment.”

Diverging outlooks: caution vs. bullish bets

Despite the sell-offs, not all sentiment has turned bearish. Over the weekend, BitMEX co-founder and billionaire investor Arthur Hayes disclosed that he had re-entered Ethereum just one week after selling $10.5 million worth at $3,507. His decision reflects a broader confidence among some traders that ETH’s long-term trajectory remains intact.

Crypto trader Yashasedu has forecast that ETH could climb above $8,500 if Bitcoin reaches $150,000, citing historical trends where Ethereum’s market capitalization hit 30%–35% of Bitcoin’s. At a 35% ratio, ETH could reach $8,656; at a 21.7%–30% ratio, it could range between $5,376 and $7,420.

This bullish stance comes as Ethereum’s total value locked (TVL) surpasses $90 billion, bolstered by growing institutional interest. For some investors, that growth complements — rather than competes with — diversification strategies involving the Trump-backed altcoin investment.

What it means for crypto investors

For crypto investors, the “7 Siblings” sell-off underscores the influence that large holders can exert over short-term price action. While Ethereum remains a cornerstone of most digital asset portfolios, the event has also spurred renewed discussion around risk management and diversification.

The Trump-backed altcoin investment, in particular, has been positioned by its proponents as a politically charged yet potentially lucrative play in a heated election cycle. Analysts note that while such an investment carries unique political and regulatory risks, its momentum in certain investor circles parallels the enthusiasm seen in Ethereum’s earlier growth phases.

“Investors are seeking both stability and narrative-driven opportunities,” — Lee added. “For some, Ethereum offers the stability; for others, the Trump-backed altcoin investment delivers the speculative upside.”

As the market digests the whale sell-off, traders will be weighing whether to follow the profit-taking trend, hold through potential volatility, or pivot toward alternative assets.

With U.S. political developments set to influence investor sentiment in the coming months, the intersection of high-cap crypto moves and politically-linked tokens like the Trump-backed altcoin investment could remain a defining storyline for 2025.