Whale "7 Siblings" re-entered the market when ETH plummeted to the $1,500 range, spending $18.03 million to buy 11,759 ETH, with an average price of about $1,533. The address still holds 10 million USDS, indicating room for further accumulation.
(Background: Ethereum drops below $1,600! DeFi protocols face liquidation of up to 343k ETH)
(Additional context: BTC crashes into the 5-figure range, ETH breaks $1,600! $1.8 billion in liquidations involving 347k people)

While 347k traders are liquidated and the fear index hits bottom, someone is quietly buying. The mysterious whale address labeled "7 Siblings" on-chain bought another 11,759 ETH on the 6th, at an average price of about $1,533, totaling $18.03 million.

Two days ago (June 4), 7 Siblings borrowed 10 million USDT via the decentralized trading aggregator CoW Protocol to buy 5,589 ETH at an average price of $1,789. In total, over 48 hours, they accumulated 17,348 ETH with a total investment of about $28.03 million, at an average price of approximately $1,616.

More notably, the address still holds 10 million USDS (a stablecoin issued by Sky Protocol), meaning they still have ammunition and could continue to buy more.

Bottom-fishing machine

The reputation of 7 Siblings in on-chain communities is almost synonymous with "buyers who appear when ETH crashes." Looking back at their operational history:

October-November 2025: ETH drops from the $3,500 range. 7 Siblings recursively borrowed via Spark Protocol (originally MakerDAO), accumulating 49,287 ETH at an average price of about $3,531.
November 2025: Within 14 hours, they bought another 15,092 ETH at an average of $3,654, with holdings surpassing 128k ETH.
February 2026: ETH falls to the $2,300–$2,400 range. Over two days, they bought 24,139 ETH for $57.21 million, at an average of about $2,370.
June 2026: ETH crashes to the $1,500 range. Over two days, they accumulated 17,348 ETH at an average of about $1,616.

Their operational pattern is very consistent: deposit ETH as collateral into lending protocols like Spark, borrow stablecoins, then use stablecoins to buy more ETH, creating a recursive leveraged position. This strategy amplifies gains during upward trends but risks liquidation during continued declines.

Early reports indicate that 7 Siblings once held up to 596.8k ETH through leveraged borrowing, with a temporary unrealized loss of $27.7 million. However, their continued buying at lower prices suggests they have a much higher risk tolerance and capital capacity than typical whales.

It’s important to note that whale bottom-fishing does not mean the market has bottomed out. 7 Siblings also bought heavily around $3,500, yet ETH continued to fall to $1,500. Currently, their weighted average cost basis is still well above the current price, and they are still showing significant unrealized losses on paper.

ETH0.76%

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