Blockchain Whale Acquires $8 Million in ETH and WBTC During Market Dip

An on-chain analyst reported that a major investor has continued accumulating ETH and WBTC, spending $28 million over five days, with holdings now exceeding $28 million in value.

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Summary

An on-chain analyst disclosed that a major investor who began buying BTC and ETH on September 9 has spent a total of $28 million over five days. Within the past eight hours, they added $8 million in ETH and $4 million in WBTC via Cowswap. Current holdings stand at 3,550.67 ETH worth $16 million, purchased at an average cost of $4,506.19 with $727,000 in unrealized profit, and 104.52 WBTC worth $12 million, acquired at an average cost of $114,810.56 with $147,000 in unrealized profit.

Terms & Concepts
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, widely used for decentralized applications and smart contracts.
  • WBTC (Wrapped Bitcoin): A tokenized version of Bitcoin on the Ethereum network, pegged 1:1 to BTC and used in DeFi protocols.