A major investor bought 27,553 ETH over five hours for nearly $63 million while ETH was trading below $2,300. The average purchase price was $2,286, following an earlier acquisition of 16,658 ETH funded with nearly $38 million in USDC. The transaction could represent long-term accumulation, a short-term trading position or liquidity management, but its scale demonstrates strong conviction. Ethereum has $44.5 billion in decentralized finance total value locked, while about 36% of its supply is staked, reducing the amount of ETH immediately available for trading.
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