A four-year ETH-holding whale converted over $44 million into Wrapped Bitcoin, signaling a major crypto asset reallocation.
A whale that had held Ethereum for four years sold 14,145 ETH valued at $44.3 million for 492 WBTC at a 0.03478 exchange rate and a $90,014 cost basis. The whale had accumulated 22,344 ETH worth $65.15 million from Kraken, Bitfinex, and Poloniex in early 2022 at an average purchase price of $2,916. This transaction marks a significant shift in the whale’s holdings from ETH to Bitcoin exposure.