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On-chain data monitoring shows that a large holder has been active recently. In just three days, this whale with an address starting with 0xF73a has exchanged all 686 Bitcoin (approximately 65.59 million USD) into Ethereum, totaling 19,631 ETH.
In just the most recent transaction, this address converted 404 Bitcoin (worth about 38.62 million USD) into 11,533 ETH. What does such a large-scale operation indicate? Major holders are quietly adjusting their asset allocations. In the current market environment, the shift from Bitcoin to Ethereum may be worth watching for the next moves of on-chain whales.