Chun Wang, co-founder of F2Pool, bought 5,246 ETH for $10.78 million at an average price of $2,054, a discount of about 14% from his November 5 sale price. Two days earlier, he had sold 6,200 wstETH for $18.5 million in USDC while ether traded near $2,400. He transferred 3,996 ETH to Lido, the largest liquid staking protocol on Ethereum, and deposited the wstETH he received on Spark to use it as collateral while continuing to earn staking rewards. About $7.7 million from the sale remains in USDC, while ether has fallen more than 15% since the start of the month amid outflows from spot ETFs.
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