Anonymous institution accumulates $112.96M in ETH over three days

An anonymous institution spent $112.96 million USDC ($112.96 million) to purchase 47,070 ETH at an average price of $2,400 over the past three days during the market downturn, according to Spot On Chain on X. In total, the entity has accumulated 132,535 ETH ($333.78 million) over the past 11 days through over-the-counter (OTC) deals with market maker Wintermute and crypto exchange Coinbase. The position is currently showing an unrealized loss of $36.68 million.