Summary
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Large $36M ETH purchase sparks debate over genuine rebound versus market manipulation.
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Conflicting market signals: declining new addresses contrast with rising zero-balance addresses, creating uncertainty.
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Critical price levels: $3,500 potential upside dependent on sustained volume; $2,000 downside risk remains.
The Ethereum (ETH) market recently witnessed a substantial acquisition of 17,855.3 ETH, prompting widespread debate about whether this signals the start of a genuine market recovery or a more calculated play by a large investor.
Analysis of Ethereum’s funding volume chart from 2023 up to March 2025 reveals a landscape of fluctuating prices and dynamic trading activity. An intriguing observation is the parallel between the peak of 160.89K new wallet addresses seen in early 2021 and this recent significant ETH purchase. This echo might suggest a renewed influx of investor interest, mirroring past market enthusiasm.
The recent acquisition of 17,855.3 ETH by an entity identified as “7 Siblings” has specifically fueled speculation regarding a potential market upturn or strategic positioning within the investor landscape. Market observers are keenly dissecting the implications of this substantial buy.
The $36 Million Transaction and Market Speculation
Delving into the specifics of this transaction, the entity “7 Siblings”— shrouded in some mystery—invested $36.68 million in a combination of stablecoins, namely DAI, USDC, and USDT, to secure the 17,855.3 ETH. This translates to an average acquisition price of $2,054 per ETH.
Reports indicate that “7 Siblings” already commands a significant Ethereum portfolio, holding over 1,169,015 ETH across two wallets, valued at an impressive $2.53 billion. This level of investment underscores a strong underlying belief in Ethereum’s enduring value proposition.
The sheer scale of “7 Siblings'” $2.53 billion holding indicates substantial market influence. Consequently, the possibility of a large-scale sell-off from such a holder presents a tangible risk, potentially capable of dragging Ethereum prices down below the $2,000 mark.
Examining on-chain metrics for a clearer perspective on Ethereum’s current market health, address data from March 5th reveals a total of 847,590 addresses. This comprises 160,890 new addresses, 587,720 active addresses, and 98,980 addresses with zero balances.
Analyzing Market Indicators and Key Price Levels
Analyzing address trends over the preceding seven days paints a slightly different picture. New addresses have seen a 2.09% decrease, active addresses have slightly declined by 2.13%, and notably, zero-balance addresses have increased by 11.29%.
As previously noted, the surge of 160.89K new addresses in early 2021 bears a striking resemblance to the activity surrounding the recent 17,855.3 ETH purchase, again pointing towards potential revitalized investor interest in Ethereum.
The considerable count of 587,720 active addresses signifies consistent user engagement with the Ethereum network, which aligns with the significant holdings of “7 Siblings” and their implied long-term commitment.
The 11.29% uptick in zero-balance addresses potentially suggests an opposing trend. This increase could indicate users realizing profits or abandoning wallets, possibly reflecting an underlying cautious or even bearish market sentiment amongst a segment of holders.
Historical precedents are also informative. The funding volume surge to $1 billion in 2021 acted as a precursor to a significant breakout towards $4,800, implying that a comparable price movement might be plausible again, particularly with the current influence of institutional capital.
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