A newly created wallet accumulated about $7.31 million worth of ETH over the past hour, according to on-chain analyst Ai Yi. The address 0x856…3cD9F first withdrew stablecoins from Binance, then used CowSwap (a decentralized trading aggregator) to buy 3,877.67 ETH in batches at an average price of $1,886.55. The wallet has since transferred all of the ETH to 0xC32…D64f9, indicating the purchase was quickly consolidated into another address.