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Bitcoin OG whale adds another $1B in Ethereum
The post Bitcoin OG whale adds another $1B in Ethereum appeared on BitcoinEthereumNews.com. The Bitcoin OG whale, who recently made headlines for dumping billions in BTC for ETH, has added another $1 billion worth of the second-largest cryptocurrency to their stash. Summary The Bitcoin OG whale added over $1 billion in ETH to their holdings. Since Aug., the whale has sold over 35,000 BTC to buy ETH. ETH price has dropped over 11% from its all-time high. Over the past 24 hours, the Satoshi era Bitcoin whale scooped up roughly $1.08 billion in ETH, according to data from on-chain analytics platform Arkham Intelligence, and subsequently staked a significant portion of it. A series of ETH purchases by the whale on Hyperunit | Source: Arkham Intelligence For the uninitiated, staking involves locking ETH into the Ethereum network to help validate transactions and secure the blockchain, in return for passive yield. As of press time, the whale’s Ethereum stash held a whopping 886,371 ETH, which is valued at over $4 billion based on current prices. As per data shared by Arkham, the whale has staked roughly $3.5 billion worth of ETH in total, which includes purchases that initially began late in August. Since Aug. 20, the investor has been rebalancing his portfolio, which originally held over 100,000 BTC. Separate findings from on-chain tracker Lookonchain revealed that the funds were originally deposited almost seven years ago. At the time, the holdings were valued at roughly $642 million; however, as of writing, it is now worth more than $11 billion. Starting last month, the whale has been offloading notable chunks of his Bitcoin holdings through Hyperunit, a decentralized exchange that has emerged as the whale’s preferred execution venue. In the weeks that followed, the whale shed over 35,991 BTC and used the funds to aggressively expand their Ethereum holdings, which now surpass even notable Ethereum treasury companies…
The post Bitcoin OG whale adds another $1B in Ethereum appeared on BitcoinEthereumNews.com.
The Bitcoin OG whale, who recently made headlines for dumping billions in BTC for ETH, has added another $1 billion worth of the second-largest cryptocurrency to their stash. Summary The Bitcoin OG whale added over $1 billion in ETH to their holdings. Since Aug., the whale has sold over 35,000 BTC to buy ETH. ETH price has dropped over 11% from its all-time high. Over the past 24 hours, the Satoshi era Bitcoin whale scooped up roughly $1.08 billion in ETH, according to data from on-chain analytics platform Arkham Intelligence, and subsequently staked a significant portion of it. A series of ETH purchases by the whale on Hyperunit | Source: Arkham Intelligence For the uninitiated, staking involves locking ETH into the Ethereum network to help validate transactions and secure the blockchain, in return for passive yield. As of press time, the whale’s Ethereum stash held a whopping 886,371 ETH, which is valued at over $4 billion based on current prices. As per data shared by Arkham, the whale has staked roughly $3.5 billion worth of ETH in total, which includes purchases that initially began late in August. Since Aug. 20, the investor has been rebalancing his portfolio, which originally held over 100,000 BTC. Separate findings from on-chain tracker Lookonchain revealed that the funds were originally deposited almost seven years ago. At the time, the holdings were valued at roughly $642 million; however, as of writing, it is now worth more than $11 billion. Starting last month, the whale has been offloading notable chunks of his Bitcoin holdings through Hyperunit, a decentralized exchange that has emerged as the whale’s preferred execution venue. In the weeks that followed, the whale shed over 35,991 BTC and used the funds to aggressively expand their Ethereum holdings, which now surpass even notable Ethereum treasury companies…
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