The crypto market was shaken by the news: a Bitcoin whale, who had been inactive for seven years, made a large transaction. The wallet owner, who held 14,837 $BTC (over $1.6 billion), sold 670 BTC for $76 million and directed the funds to purchase 68,130 $ETH , equivalent to $270 million. Additionally, the whale opened positions in derivatives for 135,265 ETH valued at $580 million, demonstrating confidence in Ethereum's growth. This was reported by the analytical platform Lookonchain.
This step reflects the growing interest of large investors in Ethereum amid Bitcoin's instability. Analysts note that such actions by whales may signal the beginning of capital rotation into altcoins, especially in the face of market volatility and outflows from Bitcoin ETFs. According to CryptoQuant, Ethereum trading volumes on exchanges are rising, which could increase price pressure but also indicates strategic accumulation of the asset.
Such transactions often become indicators of market trends, attracting the attention of institutional and retail investors. Will this mark the beginning of a new Ethereum boom? Stay tuned for updates on #MiningUpdates
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