According to BlockBeats, on August 9, on-chain analyst Yu Jin reported that ETH/BTC investor James Fickel spent $46.49 million USDC to purchase ETH and WBTC over a two-day period following the market downturn on August 5.

After the market decline on August 5, Fickel began buying ETH and WBTC in batches starting the evening of August 6. Over the course of two days, he made significant investments, including $34.49 million USDC to acquire 13,676 ETH at an average price of $2,522 per ETH, and $12 million USDC to purchase 211 WBTC at an average price of $56,824 per WBTC.