Recently, a big fish has caught my attention—the mysterious whale who spent 120 million USDC to buy ETH. There have been new moves in the past couple of days.

Just at dawn, this major holder made another move, sweeping in 20,000 ETH in one go. This order is worth over $66 million. Combined with previous holdings, the total long position in ETH now skyrockets to $335 million, with 100,000 ETH sitting in the account.

More importantly, this whale has kept their cost control quite well. Based on their opening average price, they built their position at around $3,158. At the current ETH price, the paper unrealized profit has already exceeded $16.7 million.

This level of capital flow often reflects some institutional investors' judgment on ETH's future. The continuous accumulation seems to indicate their confidence in Ethereum's upcoming trend.