On-chain analyst Ember reported that a whale or institutional entity continued rotating from Bitcoin into Ether over the past day. According to the monitoring update, the address sold 288.9 BTC, received 23.48 million USDC, and then bought 9,820 ETH.
Over the past five days, the same whale or institution sold a total of 1,601.1 BTC and received 132 million USDC. The proceeds were used to accumulate 53,095 ETH. Ember said the average purchase price for those ETH buys was $2,497.
The update points to a continued asset shift on-chain, with BTC sales being converted into USDC before moving into ETH. No additional identity details for the wallet or institution were disclosed in the monitoring note cited by Odaily.
Odaily reported, citing on-chain analyst Ember, that a whale or institutional entity sold another 288.9 BTC over the past day, received 23.48 million USDC, and used the funds to buy 9,820 ETH.
Over the past five days, the same whale or institution has sold a total of 1,601.1 BTC, received 132 million USDC, and bought 53,095 ETH at an average purchase price of $2,497, according to Ember.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
