Ethereum whale “7 Siblings” purchases 14,254 ETH for $52.47M amid market volatility and network upgrade plans.
A large Ethereum whale known as “7 Siblings” has drawn attention after purchasing 14,254 ETH worth $52.47 million. The move comes as the market faces a short-term dip, suggesting that major investors are using the decline to expand their positions.
Whale Accumulates ETH During Market Dip
According to blockchain analytics firm Lookonchain, the whale address spent $52.47 million in USDC to buy 14,254 ETH at an average price of $3,681.
The transaction occurred within 12 hours, showing strong buying activity amid market uncertainty. The tweet by Lookonchain shared a link to DeBank, which tracks the whale’s portfolio and on-chain history.
As the market dips, whales are going on a shopping spree.
Over the past 12 hours, the mysterious whale “7 Siblings” spent 52.47M $USDC to buy 14,254 $ETH at $3,681.https://t.co/RytINqnBShhttps://t.co/3ok7HNbGTp pic.twitter.com/Kz7Ti3kpCx
— Lookonchain (@lookonchain) November 4, 2025
Ethereum was trading at $3,531 at the time of the transaction. The whale’s purchase took place while the broader crypto market experienced a decline. Analysts note that such actions often reflect investor confidence in Ethereum’s long-term growth.
Whales are known to accumulate ETH during downturns, which can help stabilize prices when retail sentiment weakens.
Market data indicates that Ethereum remains above the $3,221 support level. Technical charts show short-term support at $3,250 and another at $3,000. Resistance levels are noted near $3,600 and $3,850, with volatility expected to rise if prices test these points.
Ethereum Foundation Adjusts Grants Before Fusaka Upgrade
In related developments, the Ethereum Foundation announced a restructuring of its grant program ahead of the upcoming Fusaka upgrade.
Moreover, the new approach replaces the open application model with a more focused funding structure. The updated system introduces a wishlist of key priorities and targeted requests for proposals designed to meet specific ecosystem goals.
The Foundation stated that the previous system became resource-heavy due to a growing number of submissions. The revamped model will focus on essential areas such as cryptography, privacy, security, and developer tooling. It will also promote projects aligned with the network’s technical roadmap.
The Fusaka upgrade is scheduled for December 3, 2025, and aims to improve scalability, validator performance, and data availability. Testing is already underway on the Houdini, Holesky, and Sepolia networks.
Once activated on the mainnet, the update is expected to enhance Ethereum’s efficiency and prepare it for parallel execution in future phases.
StakeWise Recovers $21M After Balancer Hack as ETH Price Recovers
StakeWise, an Ethereum staking protocol, has recovered $20.7 million in assets stolen during the Balancer V2 hack. The recovered tokens include 5,041 osETH and 13,495 osGNO. The announcement helped lift ETH prices by about 1.1%, with the token trading near $3,640 following the news.
Just half an hour earlier, StakeWise DAO emergency multisig has executed a series of transactions, recovering ~5,041 osETH (~$19M) and 13,495 osGNO (~$1.7M) tokens from the Balancer exploiter.
On Ethereum mainnet, this represents 73.5% of the ~6,851 osETH stolen earlier today,… pic.twitter.com/b43EGf92hm
— StakeWise (@stakewise_io) November 3, 2025
The hack had earlier caused losses exceeding $120 million across multiple protocols. StakeWise confirmed that its core protocol and osETH token remain secure. The affected funds were tied to an older Balancer V2 pool, while the newer Balancer V3 pool remains unaffected.
StakeWise said users can continue unstaking ETH through the internal redemption system. However, liquidity in some pools has temporarily dropped, leading to short-term pricing deviations for osETH. The team continues to work with affected users and restore liquidity across its ecosystem.
The whale accumulation, foundation reforms, and security recoveries have renewed interest in Ethereum. Traders and developers are watching how these developments shape network growth and market stability.
The post ETH News Today: Ethereum Whale “7 Siblings” Adds 14,254 ETH Worth $52.47M to Portfolio appeared first on Live Bitcoin News.