The “Bitcoin OG,” which began to spin $ 11.4 billion fate in Ether in August, continued to buy ETH over the weekend and now holds its $ 3.8 billion, onchain data.
In its latest move, Bitcoin Whale sells 4,000 Bitcoin (Btc) costs $ 435 million, it is exchanged for 96,859 spots ether in a 12-hour splurge, lookonchain Says in a post on Sunday.
The whale was then Deposited Another 1,000 bitcoin in Decentralized exchange Hyperliquid on Monday, potential for more ether (Eth) Purchase.
Blockchain Analytics service first noticed The whale on August 25, and calculated its total handling at 100,784 Bitcoin, which costs more than $ 11.4 billion in current prices.
Join “Bitcoin OG” a string of other whales that exchanged bitcoin and Purchase ether for the first time. Analysts in cointelegraph said it was a sign that the market was aging and that the whales vary in light of the positive moves of US regulation.
The whales that vary as the eth momentum builds
In a conversation with Cointelegraph, Henrik Andersson, chief investment firm Apollo Crypto, said it was difficult to find out what individual whales were thinking, but in history, there was a round market from Bitcoin to Ether, then to the altcoins.
“After the genius regulations and pro-US regulations, there is more gravity behind some altcoins, especially Ethereum, and it may be some whales that choose to vary lightly with the positive backdrop,” he said.
In July, President Donald Trump then signed the Genius Act in law. The law focuses on Stablecoins and the country’s first federal law focused exclusively on payment stablecoins.
Andersson said Ether has been getting momentum ever since. It reaches a New all-time high On August 24, crossing above $ 4,946, According to In coingecko. The token is now trading at $ 4,389, down 1.2% in the last 24 hours.
“Bitcoin is going to the sideways for months while there is a real momentum for Ethereum. We saw ETF flows in August greatly favored Ethereum. In our view, it will likely continue on a medium term.”
Crypto is no longer a career of a Bitcoin horse
Ryan McMillin, Chief Investment Officer of the Australian Crypto investment manager Merkle Tree Capital, told Cointelegraph that even though the prolonged bitcoin holder varies with the ether, this is not an abandonment of the token; Instead, recognizing that the crypto landscape is matured.
“After years of handling, many OG whales view Bitcoin as digital gold as Ether offers yields through staking, and exposure to the broader economy of the contract contract,” he said.
“For Bitcoin veterans, the dedication to the ether is less about the chase of the hype and more about recognizing that digital properties are no longer about storing value, but a multi-protecol ecosystem with a diverse and growing case set.”
However, McMillin said that not all OG whales rotate; Most maintain their exposure to Bitcoin. It was this subset that signed that the ether became a major hold rather than a speculation -that stakes.
Related: OG Bitcoiners are spinning, but this is a healthy dynamic -new: analysts
At the same time, he referred to other Altcoins could see some streams from Bitcoin whales, along with the timing of the timing in a “classic alteason,” when bitcoin was strong and some capital “naturally flows into ETH while investors are looking for a relative -child value.
“If ETH’s rotation accumulates momentum, it is no wonder to see the flows reaching Solana (Sol) Next, its traction is provided to consumer and defi apps. “
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