ETH falls below 3500 while whales continue to accumulate

A large‐scale accumulation by a mysterious crypto entity dubbed “7 Siblings” has ignited attention across the Ethereum ecosystem. This whale group borrowed heavily in USDC and bought tens of thousands of ETH while the price was sliding. 

The data suggests that institutional-style players are stepping in just as retail sentiment pulls back. On-chain tracking via Nansen and Onchain Lens reveals a clear pattern of accumulation, underscoring that major buyers may view the dip as a strategic window.

Strategic moves by “7 Siblings”

According to Onchain Lens, the “7 Siblings” wallets (notably 0x741aa7…1f3 and 0x28a55c…6b0) borrowed $40 million USDC via Aave V3 and purchased 10,861 ETH at an average price of $3,683 per ETH. 

Shortly thereafter, the group spent an additional $32.49 million USDC to acquire 9,057 ETH, bringing the total to $72.49 million USDC for 19,918 ETH at an average price of $3,638 per ETH.

Earlier still, in mid-October, they borrowed $20 million USDC, used half (~$10 million) to buy 2,664 ETH at ~$3,754 each, and retain about $10 million ready for further accumulation.

The "7 Siblings" have further spent $32.49M $USDC to buy 9,057 $ETH.

In this dip, they have spent $72.49M $USDC to buy 19,918 $ETH at a price of $3,638.

Addresses:

– 0x741aa7cfb2c7bf2a1e7d4da2e3df6a56ca4131f3
– 0x28a55c4b4f9615fde3cdaddf6cc01fcf2e38a6b0

Data @nansen_ai https://t.co/5yjaf7bvkm pic.twitter.com/A3l52Y5KFr

— Onchain Lens (@OnchainLens) November 4, 2025

These coordinated moves show a whale group that is:

• Willing to borrow stablecoins to fund acquisition.
• Entering large ETH positions when market price is weak.
• Possibly staging a laddered build-up rather than a one-time buy.

What this means for ETH and market sentiment

When a large wallet or institution steps in while the price is down, it often signals confidence or at least a calculated expectation of a rebound. The “7 Siblings” accumulation at ~$3,600–$3,700 came as Ethereum fell below that range, giving market watchers a potential indicator of support.

Recent on-chain data also shows that Ethereum stablecoin volumes have surged to record highs, reflecting growing liquidity and institutional activity on the network.

For the broader market:

• Retail traders may take note: if smart, big-money participants are buying, it could shift sentiment positive.
• Lending protocols like Aave taking on large USDC borrowing indicates leveraged accumulation, which adds a layer of risk if prices reverse.
• If selling pressure subsides and accumulation continues, price floors may strengthen, giving ETH more base to rebound from.

Other historical accumulation by the group

This is not the first time “7 Siblings” has deployed capital into ETH. In March 2025 the entity reportedly spent ~$36.68 million to acquire ~17,855 ETH at an average price around $2,054. That earlier purchase aligns with prior ETH dips, suggesting the group may favour accumulation during stress or weakness.

A mysterious entity known as "7 Siblings" has bought 17,855.3 $ETH for $36.68M in $DAI, $USDC, and $USDT, at an average price of $2,054.

They likely hold over 1,169,015 $ETH, valued at $2.53B, across 2 different wallets.

Addresses:
– 0x28a55c4b4f9615fde3cdaddf6cc01fcf2e38a6b0
-… pic.twitter.com/62IjmHhv2H

— Onchain Lens (@OnchainLens) March 5, 2025

Key takeaways for investors and watchers

• Price zone to watch: The ~$3,600–$3,700 range may serve as a buying window for whales, meaning if ETH dips near or below that, accumulation may continue.
• Risk factor: Borrowing to buy introduces leverage risk — a sharper drop could trigger liquidations or forced sales by borrowed-fund positions.
• Market signal: Large-scale accumulation by an entity often signals strategic positioning and could mark a bottoming process if followed by reduced selling pressure.
• Actionability: While this is not investment advice, watching on-chain flows and large wallet borrowing can give insight into where the “smart money” is moving.

At the time of writing this article, Ethereum (ETH) is trading at around $3,497.45.

Disclaimer:

This article is for informational purposes only. It does not constitute investment, financial, trading or tax advice. Cryptocurrency trading involves significant risk, including the possibility of losing all invested capital. Always conduct your own research and consult a qualified financial advisor before making any investment decision.

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