A whale started switching its holdings to BTC after holding ETH for 4 years.
TL;DR
A long-term ETH holder, after four years, has sold 14,145 ETH worth $44.3 million to acquire 492 WBTC at an exchange rate of 0.03478, signaling a shift from Ethereum to Bitcoin.
Tags
[A whale has begun switching its ETH holdings to BTC after 4 years] According to Mars Finance, on-chain data analyst Yu Jin has detected a whale that has held ETH for four years and has chosen to switch its ETH holdings to BTC. This whale has sold 14,145 ETH (approximately $44.3 million) for 492 WBTC at an exchange rate of 0.03478, with an average cost of $90,014 for WBTC. This address previously held 22,344 ETH (approximately $65.15 million) withdrawn and accumulated from exchanges such as Kraken, Bitfinex, and Poloniex four years ago, with an average withdrawal price of $2,916.