Ethereum Whales Dump $63M as Selling Pressure Builds

Two large Ethereum wallets have collectively offloaded $63 million in ETH and staked ETH, sparking fresh selling pressure on the market. The first sale came from a popular whale known as '7 Siblings', which sold 14,000 ETH for $32.85 million at an average price of $2,346. This wallet has been tracked by analysts since 2024 for its pattern of buying during downturns and taking profits in large sales.

The second sale came from a separate wallet identified as 0xFD10, which sold 11,252 stETH for $26.5 million and an additional 1,824 ETH for $4.26 million. The combined proceeds from both sales totaled $30.78 million USDT. Staked ether (stETH) represents ETH deposited with Lido Finance, the largest Ethereum staking protocol.

The sale of these large amounts of ETH adds to a broader pattern of selling among Ethereum whales. Other large holders have cashed out during 2026 rallies, including one wallet that sold 55,000 ETH and 9,442 wstETH for a combined $136 million in May. The market will be watching closely to see if this sale is a sign of deeper distribution or simply routine profit-taking.