- A Bitcoin whale sold 4,000 BTC for $460 million, buying Ethereum worth $806 million.
- The whale’s Ethereum holdings are up $100 million in profit, showing strong faith in ETH.
- Ethereum’s price at $4,700 nears key levels, hinting at an altcoin increase as Bitcoin holds at $114,800.
A big time Bitcoin investor, one of those whales everyone talks about, just sold 4,000 BTC worth $460 million to load up on Ethereum. Their Ethereum pile is now worth $806 million, and people are stirring that this could mean altcoins like Ethereum are about to take the spotlight over Bitcoin. This whale’s been steadily swapping Bitcoin for Ethereum, showing they’re pretty confident in where it’s headed.
Whale’s Ethereum Haul
A post on X from Lookonchain says this whale’s got 179,448 ETH, bought at an average of $4,490 each. That includes 135,265 ETH in long contracts, worth $581 million, with $58 million in profits they haven’t cashed out yet. They’re also holding 122,226 ETH straight up, bought at $4,377, with another $42 million in unrealized gains.
Just an hour ago, they dumped 300 BTC for $34.86 million on Hyperliquid and turned it into more Ethereum. All told, their Ethereum bet’s up over $100 million in profit. It’s one of the biggest Bitcoin to Ethereum switches by a known whale in a while.
Other players, like Matrixport, are also shuffling things, pulling 95,873 ETH worth $452 million from exchanges while grabbing 2,300 BTC worth $272 million. Bitcoin’s sitting steady at $114,800, soaking up the whale’s sell off without much fuss, which shows people are still buying above $110,000.
Source: https://thenewscrypto.com/bitcoin-whale-shifts-460m-into-ethereum-now-worth-806m-with-100m-profit/