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A major whale has shown a clear asset allocation adjustment today. According to on-chain data monitoring, this ETH whale exchanged 7,828 ETH (approximately $24.6 million) into 269 WBTC today.
What’s more noteworthy is that this is not an isolated operation. From its complete transaction record, this whale has systematically converted the vast majority of its ETH holdings — a total of 21,973 ETH, equivalent to about $68.9 million, into 761.4 WBTC. Based on this calculation, the average cost basis for its WBTC is approximately $90,491.
After the conversion, the whale’s ETH holdings have been significantly reduced, leaving only 370 ETH. This large-scale shift from ETH to WBTC reflects this major holder’s optimistic attitude towards Bitcoin assets.