According to on-chain analytics, February 17 saw a well-known crypto whale making another significant move, spending 43 BTC in a single transaction to acquire 1,468 ETH, valued at approximately $2.91 million.
This transaction marks part of a larger accumulation trend, as the address has now spent a total of 129 BTC (worth around $8.72 million) to purchase 4,412 ETH at an average price of $1,976 per ETH. All acquired ETH has been moved to a newly created wallet.
Analysts speculate this could indicate strong confidence in Ethereum's long-term prospects or preparation for a specific strategic purpose.