BTC whale now holds $3.8B in ETH, in move analysts say signals market maturity
During a 12-hour buying spree over the weekend, the “Bitcoin OG” whale gobbled up 96,859 spot Ether after selling 4,000 Bitcoin.
The “Bitcoin OG” that began rotating its $11.4 billion fortune to Ether in August continued buying ETH over the weekend and now holds $3.8 billion of it, onchain data shows.
In its latest move, the Bitcoin whale sold 4,000 Bitcoin (BTC) worth $435 million, exchanging it for 96,859 spot Ether over a 12-hour splurge, Lookonchain said in a post on Sunday.
The whale then deposited another 1,000 Bitcoin into decentralized exchange Hyperliquid on Monday, potentially for more Ether (ETH) buying.