💥The giant whale continues to "reallocate", transferring over 2,200 BTC to ETH in the past month.
The on-chain world has once again sent signals worth pondering. According to analyst monitoring, today a certain whale/institutional address exchanged 317 BTC for 9,105 ETH through the cross-chain protocol THORChain.
More importantly, it's about the trend. This is not a one-time operation, but rather the latest step in a series of continuous actions since November 25. Data shows that in the past month, the address has cumulatively exchanged 2,289 BTC for 67,253 ETH and has continued to hold.
Why is this series of operations worth attention?
1. Scale and continuity: The conversion involves assets worth approximately 148 million dollars, and has continued for more than a month, which usually reflects the careful thinking of the underlying funds regarding medium to long-term asset allocation, rather than short-term trading.
2. Choice of operation method: It completed the exchange directly through decentralized protocols like THORChain, demonstrating the maturity and efficiency of on-chain financial facilities, providing new pathways for large asset conversions.
3. Resonance with market trends: This "BTC to ETH" movement coincides with a series of positive developments in Ethereum fundamentals recently, such as the reflow of spot ETF funds and the completion of network upgrades, which may indicate that smart money is reassessing the relative value of the two core assets.
The on-chain footprints of whales are often a window for observing deep market capital flows. This ongoing exchange behavior provides the community with an interesting analytical perspective and gives us more expectations for the future market landscape.
