According to on-chain analyst Ember, a whale spent 20 million USDC an hour ago to buy 10,380 ETH at $1,927, lowering its average purchase price. Two months ago, it spent 40 million USDC to buy 15,118 ETH at $2,646. It has spent a total of 60 million USDC to buy 25,498 ETH at an average price of $2,353, with an unrealized loss of $10.48 million.