Wu Says learned that according to analyst Ember's monitoring, a certain whale/institution address has been continuously conducting "dollar-cost averaging" style ETH purchases with large funds since March 10. The latest on-chain data shows that the entity purchased 14,424 ETH with 30.72 million USDT through a new wallet in the early hours of today. To date, the mysterious whale has cumulatively spent approximately 253 million USDT through 6 different wallet addresses on-chain to purchase a total of 117,800 ETH, with a comprehensive average purchase price of approximately $2,149. This position-building address cluster was previously labeled by some platforms as ShapeShift founder Erik Voorhees, but was subsequently publicly and explicitly denied by him.

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