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On-Chain Analyst Reveals $58.5M WBTC Sale Linked to Defiway Cross-Chain Transfer

On-chain analyst Ai 姨 reports that address 0x44f…8C91A sold 886.31 WBTC worth $58.53M after receiving assets via Defiway cross-chain six months earlier, following consolidation from multiple sources.

WBTC

Summary

On February 19, on-chain analyst Ai 姨 identified wallet address 0x44f…8C91A selling 886.31 wrapped Bitcoin (WBTC) valued at $58.53 million within five hours at an average price of $66,044.99. The WBTC originated from Defiway cross-chain transfers six months earlier and was consolidated from dozens of addresses before liquidation.

Terms & Concepts
  • Wrapped Bitcoin (WBTC): A tokenized version of Bitcoin on the Ethereum blockchain, backed 1:1 by BTC and used in DeFi applications.
  • Cross-chain: A method allowing the transfer of digital assets between different blockchain networks.
  • Defiway: A blockchain service facilitating cross-chain asset transfers and decentralized financial interactions.