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Whale's Four-Year Holding Major Adjustment: 22,344 Ethereum Fully Switched to WBTC
According to on-chain monitoring, a long-term Ethereum whale address recently completed a large-scale asset reallocation. The whale has converted all 22,344 ETH into 774.1 WBTC, with a total value of approximately $70.06 million. The average cost basis for WBTC is $90,505.
Why the whale is adjusting its allocation
This transaction reflects market participants’ strategic considerations regarding asset allocation. The ETH held for four years has finally been cleared by the whale, which is now fully focused on the Bitcoin ecosystem through the wrapped token WBTC. Such adjustments are not uncommon in the current market environment.
According to the latest data, Ethereum’s current price is $3.21K, while the trading price of WBTC has risen to $92.75K. This conversion by the whale is equivalent to using lower-cost ETH to acquire an important liquidity tool within the Bitcoin ecosystem.
The logic behind the market
WBTC, as a mainstream cross-chain bridging asset, plays a key role across multiple blockchain ecosystems. This move by the whale may indicate confidence in the medium-term performance of Bitcoin-related derivatives or preparations for certain DeFi strategies.
It also reflects dynamic adjustments by market participants in ETH-to-USDT exchanges and other asset allocations. Large holders’ position changes often reveal subtle shifts in market sentiment and are worth paying attention to.