Bitcoin Whales Make Big Moves! Splurging $1.05 Billion to Swap for Ethereum, Earning $110 Million

On August 24, two ancient Bitcoin whales made large-scale asset adjustments, swapping their Bitcoin for Ethereum, which attracted significant market attention.

First, let's look at Ancient Whale 1, who directly sold 6,000 Bitcoins.

Based on the price of $115,000 at that time, these 6,000 Bitcoins were worth about $690 million, which is no small amount. Shortly after, Whale 1 took this money and turned around to buy Ethereum, purchasing 152,494 coins at a unit price of $4,750, worth about $724 million. This in-and-out transaction resulted in a price difference of $34 million, indicating that this whale is very confident in the future of Ethereum.

Now, let's talk about Ancient Whale 2, whose actions were equally astonishing.

They sold 3,142 Bitcoins, worth about $360 million, also priced at $115,000. Then they bought 55,090 ETH, worth about $262 million, at a unit price of $4,750. Not only that, Ancient Whale 2 also made a strong move in Ethereum perpetual contracts, opening long positions on 135,263 ETH perpetual contracts, with a nominal value of about $643 million, also priced at $4,750.

When we sum up the operations of the two whales, they sold a total of 9,142 Bitcoins, with a total value of about $1.05 billion, all priced at $115,000. Meanwhile, the purchased Ethereum spot reached 207,584 coins, worth about $986 million at $4,750. If we include the perpetual contracts, the total exposure for Ethereum (spot + perpetual) reached 342,847 coins, with a nominal value of about $1.63 billion. Currently, the two whales have already made a profit of about $110 million from the ETH/BTC conversion trades.

Why are these two ancient whales making such large-scale swaps? Perhaps they believe that Ethereum has greater upside potential in the near future, or they have a new assessment of the overall cryptocurrency market landscape. Regardless, their actions have already triggered a chain reaction in the market, prompting other investors to reassess their investment portfolios. $ETH #比特币巨鲸换仓以太坊