According to Onchain Lens, the linked entity used Tether to rebuild a large Ethereum position after a year of selling, while Lookonchain later reported a separate 5,571 ETH sale by billΞ.eth at a loss.
Two linked wallets accumulated 50,706 ETH for about $111.62 million in USDT at an average price of $2,201 per ETH, according to Onchain Lens. Wallet 0x554 bought 27,714 ETH for about $61.02 million, while wallet 0xF2f bought 22,991 ETH for about $50.60 million. Onchain Lens said the entity tied to the wallets had spent the past year selling before rebuilding its position in phases. Separately, Lookonchain reported that billΞ.eth sold 5,571 ETH at an average price of $2,111 for $11.76 million around March 20, with the transaction resulting in a reported loss of about $760,000.