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On-Chain Data Shows $8 Million USDT Used for First ETH Purchase

On-chain analyst Ai Aunt reported blockchain address 0xDE3...ddFCc spent 8 million USDT to acquire 2,640 ETH after withdrawing funds from Bitget, marking its initial Ethereum investment.

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Summary

Blockchain analyst Ai Aunt disclosed that address 0xDE3...ddFCc used 8 million USDT to buy 2,640 ETH at an average price of $3,027.33. This is the address's first Ethereum position following a recent withdrawal from crypto exchange Bitget.

Terms & Concepts
  • On-chain analyst: A researcher who studies cryptocurrency transactions recorded directly on a blockchain network.
  • USDT (Tether): A U.S. dollar-pegged stablecoin commonly used for trading and transfers in the crypto market.
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, fees, and smart contracts.