Blockchain Data Reveals '7 Siblings' Buy Nearly 38,000 ETH Using USDC
On-chain data shows '7 Siblings' whale group spent $174M acquiring Ethereum since October, continuing aggressive purchases via borrowed USDS despite nearing $19M unrealized losses.
ETH
USDC
USDS
Summary
The whale group '7 Siblings' borrowed $11 million USDS from Spark to purchase 3,496 ETH at $3,147 on November 15, part of ongoing accumulation since October 11. In total, they have spent $174 million to acquire 49,287 ETH at an average price of $3,531, now facing an unrealized loss of $18.97 million. Previous purchases included 2,211 ETH bought with $7 million USDS at $3,166 each, reflecting a sustained strategy of large-scale Ethereum acquisition a midst market volatility.
Terms & Concepts
- ETH: Short for Ethereum, a blockchain platform supporting smart contracts and decentralized applications.
- USDS: A stablecoin pegged to the U.S. dollar, designed to maintain consistent value for transactions and holdings.