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is getting boring. That could open more doors for the crypto asset on Wall Street.
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Bitcoin (BTC) Drops $9,000 from All-Time High: Is the Correction Done?
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$ETH $BTC #Write2Earn Crypto no longer a one-horse Bitcoin race Ryan McMillin chief investment officer of Australian crypto investment manager Merkle Tree Capital, told Cointelegraph that although long-standing Bitcoin holders are diversifying into Ether, it’s not an abandonment of the token; instead, it’s recognition that the crypto landscape has matured. “After years of holding, many OG whales view Bitcoin as digital gold while Ether offers yield via staking, and exposure to the broader smart contract economy,”
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BTC whale now holds $3.8B in ETH, in sign of ‘market maturity’#PCEMarketWatch $BTC $ETH The “Bitcoin OG” that began rotating its $11.4 billion fortune to Ether (ETH $4,407) 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 $108,091) 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 buying. The blockchain analytics service first noticed the whale on Aug. 25, and calculated its total holdings at 100,784 Bitcoin, worth over $11.4 billion at current prices. The “Bitcoin OG” joins a string of other whales who have been trading out Bitcoin and buying Ether for the first time. Analysts told Cointelegraph that it is a sign that the market is maturing and that whales are diversifying in light of positive regulatory moves in the US.
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The crypto market continues to send alarming signals
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