Ethereum ICO Participant Buys $23.7M Worth of ETH at $2,794 Each

An Ethereum ICO participant has re-entered the market after six months, buying 8,492.8 ETH at an average price of $2,794 each on September 21.

The wallet linked to the participant made four trades using Cow Swap, a decentralized exchange aggregator that batches trades, and sold stablecoins for 10,049,997.50 DAI, 4,493,614.20 USDS, 7,055,997.28 USDC, and 2,125,834.46 USDT.

The total value of the transaction was $23.73 million, with the wallet now holding around 16,773 ETH.

This is not the only large purchase in recent days, as another entity has accumulated 21,520 ETH since September 18, with a paper gain of about $3.25 million.