The mysterious Seven Siblings wallets are buying ETH dip with borrowed UDSC

The recent market dip on ETH reawakened one of crypto’s mysterious entities, the Seven Siblings wallets. The wallets borrowed $20M USDC to acquire more ETH. 

The Seven Siblings wallets reawakened during the latest market downturn, as ETH dipped to the $3,700 range again. The entity bought in at $3,754 per ETH, retaining $10M for further purchases. 

The Mysterious Whale/Institution "7 Siblings" borrowed $20M $USDC to buy 2,664 $ETH for $10M $USDC at a price of $3,754.

It still hold $10M $USDC, likely to buy more.

Address: 0x28a55c4b4f9615fde3cdaddf6cc01fcf2e38a6b0

Data @nansen_ai pic.twitter.com/YPfJz4pZsT

— Onchain Lens (@OnchainLens) October 17, 2025

The whale wallets used CowSwap to make a series of ETH orders on decentralized exchanges. After the purchases were completed, the multi-wallet entity held 96% of its reserves in ETH, for a total of over $818M, with over $445M staked on Aave and holdings on several smaller L2 chains.

The activation of the Seven Siblings wallets has historically been a sign of a market bottom. The seven connected wallets have bought during previous liquidation rallies, going as low as $1,700 per ETH in April 2025. The buying started just as ETH price managed to liquidate most of the larger long positions.

Thinner liquidity remains down to the $3,500 per ETH range, suggesting the recent market slide may reverse soon.

This time around, the wallets have not bought all the ETH at once, potentially anticipating more opportunities for a lower price range. The wallets have also staked some of their ETH on Aave, holding several varieties of wrapped ETH tokens from different DeFi protocols. 

The Seven Siblings also bought 6,149 ETH during the October 11 liquidation event, extending their acquisition streak during subsequent market crashes.

Is ETH done with the slide? 

ETH dipped to the $3,700 range, as BTC abandoned its previous higher tier and sank below $105,000. The rapid shift in trading sentiment suggests the crypto market is not yet finished with its price drops. 

ETH open interest slid further to $18.37B, with no significant growth in the past few days. The series of liquidations is keeping traders away until the market shows a clearer direction. 

ETH saw over $121M liquidations in the past four hours, during the most active part of the crash. The past few days saw additional profit-taking by whales, as well as flash crashes, which further broke down sentiment. 

Are whales selling ETH? 

The largest single liquidation for ETH happened on Hyperliquid, where a position valued at $20.42M was wiped out. In total, 291,122 traders were liquidated in the past 24 hours, mostly on the BTC and ETH markets. 

The rapid market crash caused some panic-selling, as in the case of one known hacker wallet. The wallet sold again at a loss, after recently re-buying ETH at $4,269. 

The market crash spooked the hacker into panic-selling 9,240 $ETH($34.88M) at $3,775, taking a $4.56M loss!

Looks like this hacker isn't much of a trader — always buying high and selling low.https://t.co/6uvosrsGZC pic.twitter.com/T5fVEyMqYV

— Lookonchain (@lookonchain) October 17, 2025

Additionally, on-chain data suggests exchanges sold ETH, adding to the long liquidations in the past day. 

Following the recent market slide, liquidations are starting to affect DeFi positions. The liquidations put more ETH in the hands of DeFi protocols, potentially increasing the selling pressure.

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