A whale that has held ETH for approximately four years is rebalancing its portfolio, converting some of its ETH into BTC.

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According to @EmberCN monitoring, a whale who has held ETH for approximately four years conducted a portfolio rebalancing operation today, converting some of their ETH into BTC. On-chain data shows that this address sold 14,145 ETH (approximately $44.3 million) and exchanged them for 492 WBTC, with an exchange rate of approximately 0.03478 and an average cost of approximately $90,014 for WBTC. This whale withdrew and accumulated 22,344 ETH from exchanges such as Kraken, Bitfinex, and Poloniex in early 2022, with a total cost of approximately $65.15 million and an average purchase price of approximately $2,916.

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