Whale Activity During Market Dip
According to Onchain Lens, the mysterious entity '7 Siblings' injected $31.08 million worth of USDT and USDC into the market during early morning volatility, acquiring 12,806 ETH at approximately $2,427 per ETH.
Strategic Accumulation Pattern
This purchase aligns with the entity's historical pattern of buying during market weakness. Notably, the wallet still holds open orders via CoW DAO, suggesting further accumulation plans remain active.
Market Implications
- Signals potential bottom formation
- Demonstrates ample stablecoin liquidity
- Provides short-term ETH price support
The whale's movements offer valuable insights for market observers, often preceding significant trend reversals following periods of volatility.