Whale Movements Amid Market Volatility
According to recent market tracking data, the well-known entity Trend Research currently holds 651,300 ETH, valued at approximately $1.92 billion, with an average acquisition price of $3,180. This position is currently facing an unrealized loss of around $163 million.
Meanwhile, another sophisticated group, 7Siblings, has deposited 596,800 ETH (worth about $1.765 billion) across eight addresses on the Spark protocol and borrowed $193 million in stablecoins to accumulate more ETH during the downturn, implementing a contrarian accumulation strategy.
Adding Exposure: Strategy After Sharp Declines
Notably, Trend Research recently transferred $70 million in USDT to Binance to purchase 24,555 ETH, which were quickly withdrawn back on-chain. This move reflects a combination of short-term trading strategy and preference for on-chain asset control.
Since October last year, 7Siblings has spent $174 million to acquire 49,287 ETH at an average price of $3,531. Currently sitting on an unrealized loss of $27.7 million, their consistent buying pattern indicates strong long-term conviction despite short-term volatility.
Market Implications From Institutional Behavior
- Ethereum continues to be viewed as a store of value with long-term potential
- Institutional players tend to accumulate during market downturns
- Using lending protocols to maintain liquidity has become a standard practice
Despite current unrealized losses, Ethereum's underlying ecosystem value continues to attract significant capital inflows, suggesting that large players remain confident in its long-term trajectory.