Vida, founder of Formula News, bought the dip with $2 million worth of ETH at the price of $2,281

According to ChainCatcher, on-chain analyst Ai Aunt monitored that Formula News founder Vida publicly purchased $2 million worth of ETH early this morning. The 1,983.57 ETH was bought at a price of $2,281, which was almost the short-term bottom, and has now achieved an unrealized profit.

In addition, $20 million has been prepared to bottom-fish during a "larger sharp drop." Since the "1011 insider whale" has already been liquidated, Vida believes there will be no further major crashes this weekend. He plans to hold the ETH position until Monday's workday, waiting for the precious metals market to stabilize before a crypto rebound.