A whale spent 20 million USDC to buy 10,380 ETH at $1,927 in an attempt to lower their average entry price, according to on-chain analyst Ember. The purchase marks a significant dip-buying move as Ethereum trades well below the whale's initial cost basis. The same wallet had acquired 15,118 ETH two months ago at an average price of $2,646 using 40 million USDC. Combined with the latest buy, the whale now holds 25,498 ETH at a blended average cost of $2,353, carrying an unrealized loss of approximately $10.48 million.