According to @OnchainLens citing Nansen on-chain data, the entity known as 7 Siblings borrowed 20 million USDC and purchased 2,664 ETH for 10 million USDC at an average execution price of 3,754 dollars, with activity tied to address 0x28a55c4b4f9615fde3cdaddf6cc01fcf2e38a6b0. According to @OnchainLens citing Nansen, the wallet still holds 10 million USDC and is likely to buy more, indicating 10 million USDC of remaining capacity alongside 10 million USDC of executed ETH buys at the 3,754 level. According to @OnchainLens citing Nansen, traders can monitor the address 0x28a55c4b4f9615fde3cdaddf6cc01fcf2e38a6b0 and the 3,754 execution zone given the scale of the 2,664 ETH fill and remaining 10 million USDC balance.

According to Lookonchain, a newly created wallet executed a significant transaction involving the withdrawal of 3,000 ETH (equivalent to $4.92 million) from Kraken. This ETH was then strategically deposited into decentralized finance platforms Aave and Compound. Following this, the wallet borrowed 3 million USDC, which was subsequently redeposited into Kraken, indicating a potential strategy to acquire more ETH. This move highlights the wallet's sophisticated trading approach, leveraging DeFi protocols for liquidity management and possibly influencing ETH market dynamics.