Whale Buys $46.69 Million of Ether via OTC, Pushing Holdings Above 180,000 ETH

A large investor has added to its Ether holdings through an over-the-counter trade.

OnchainLens said on June 5 that wallet address "0xFB7" recently bought an additional 29,000 ETH through institutional trading platform FalconX. The purchase was worth about $46.69 million.

The investor now holds a total of 151,588 wsETH. That is equivalent to about 187,460 ETH, with a current value of roughly $296.19 million.

wsETH is a wrapped version of stETH, Lido's staking derivative. It allows investors to earn staking rewards while using the asset as collateral in decentralized finance protocols.

Ether has recently fallen to its lowest level in 13 months amid concerns about DeFi hacks and broader weakness in the digital-asset market. As of June 6 in Korea, Ether was trading at $1,592.46 on Binance's USDT market, down 10% from a day earlier.