Whale Sells $45.8M Bitcoin for Ethereum in Three-Day Transaction

A significant transaction has been observed in the Ethereum market, as a whale sells Bitcoin to purchase Ethereum. According to Lookonchain's data, a group of newly created wallets, likely belonging to the same entity, sold 602 Bitcoin on Hyperliquid over three days. This sale generated approximately $45.83 million, which was used to buy 18,780 Ethereum.

The whale's activity has been recorded as a portfolio rotation, with its Bitcoin position being reduced and replaced by a similar-sized position in Ethereum. It is worth noting that the ownership of these wallets has not been confirmed, but their newly created status and similar transactions suggest a link to the same entity.

This transaction follows a previous period where the same whale sold 1,107 BTC and purchased 34,422 ETH for approximately $86.5 million, staking these assets.