Whale 0xC9D6 drops another $3.43M on ETH — $47M accumulated since February!

A tracked on-chain whale, address 0xC9D6, deployed another 3.43 million USDC to scoop up 1,500 ETH roughly six hours ago, continuing one of the more consistent accumulation runs visible on-chain this cycle.

Since February 15, the wallet has spent 46.99 million USDC to acquire 21,800 ETH at a blended average of $2,155 per coin. At current prices, the position is sitting on approximately $3 million in unrealized profit — a modest but positive return on a nine-figure-scale conviction bet.

The steady cadence of buys, each funded in USDC rather than recycled crypto, points to fresh capital entering the market rather than a rotation trade. That distinction matters: it signals an entity with external liquidity choosing ETH as a destination, not simply reshuffling an existing on-chain book.