A Bitcoin whale sold 4,000 Bitcoins for 460 million USD, buying Ethereum worth 806 million USD.
The whale's profits from Ethereum have risen by 100 million USD, indicating strong confidence in Ethereum.
The price of Ethereum approaching 4,700 USD signals a rise in the value of alternative currencies, as the price of Bitcoin stabilizes at 114,800 USD.
A major Bitcoin investor, one of those whales everyone talks about, just sold 4,000 Bitcoins worth 460 million USD to buy Ethereum. The value of his Ethereum holdings is now 806 million USD, and people fear this might mean that alternative currencies like Ethereum are about to steal the spotlight, surpassing Bitcoin. This whale is constantly swapping Bitcoin for Ethereum, showing his strong confidence in its future.
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The whale's spoils from Ethereum
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A post on platform X from Lookonchain indicates that this whale owns 179,448 Ethereum, purchased at an average price of 4,490 USD each. This includes 135,265 Ethereum in long-term contracts, worth 581 million USD, with unrealized profits of 58 million USD. He also owns 122,226 Ethereum, bought at a price of 4,377 USD, with unrealized profits of 42 million USD.
Just an hour ago, they sold 300 Bitcoins for 34.86 million USD on the Hyperliquid platform and converted it into more Ethereum. Overall, their profits on Ethereum surpassed 100 million USD. This is one of the largest Bitcoin to Ethereum conversions conducted by a well-known whale in a while.
Other players, such as Matrixport, are also adjusting their positions, having withdrawn 95,873 Ethereum worth 452 million USD from exchanges, while acquiring 2,300 Bitcoins worth 272 million USD. The price of Bitcoin has stabilized at 114,800 USD, surpassing the sell-off this whale had without much fuss, indicating that people are still buying above 110,000 USD.