According to @lookonchain, MARA Holdings bought 400 BTC (about USD 46.31M) via FalconX roughly two hours ago and is reported to hold 52,850 BTC (about USD 6.12B), with an Arkham Intelligence address-explorer link provided for reference (source: @lookonchain; source: Arkham Intelligence). The stated USD amounts imply an average execution near USD 115,775 per BTC for the 400 BTC tranche, derived from the figures shared by @lookonchain (source: @lookonchain). Execution via FalconX indicates OTC routing intended to reduce exchange slippage and visible order-book impact for large crypto orders, as described in FalconX’s institutional prime brokerage materials (source: FalconX). Traders who track on-chain whale accumulation often monitor such sustained buys as signals of tightening liquid supply, a behavior documented in institutional research on whale accumulation metrics (source: Glassnode).