A whale has spent a cumulative $62.97 million to buy 27,553 ETH over the past five hours.

A whale accumulated 27,553 ETH for approximately $62.97 million over the past five hours on November 2, according to Lookonchain monitoring, at an average purchase price of $2,286 per token. The buying occurred in stages, with the address previously deploying 37.96 million USDC to purchase 16,658 ETH at an average price of $2,279 within a two-hour window. The sustained accumulation by a single large holder signals notable conviction in ETH at current price levels and can influence short-term market sentiment and liquidity. Watch for whether the whale continues adding to its position and for any subsequent movement of the funds to exchanges, which could indicate a shift in strategy.