Allegedly, a certain entity has cumulatively spent approximately $112 million to purchase 50,706 ETH at an average buying price of $2,201.

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Odaily Planet Daily reports that, according to Onchain Lens monitoring, two addresses, 0x554 and 0xF2f, are suspected to belong to the same entity. Over a period of time, they spent approximately $111.62 million USDT to purchase 50,706 ETH, with an average purchase price of about $2,201.

Specifically, address 0x554 spent around $61 million to buy 27,714 ETH; address 0xF2f spent about $50.6 million to buy 22,991 ETH. The entity has been continuously selling over the past year, and this recent activity appears to be a phased position replenishment.

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