Unknown Bitcoin OG Sells Coins To Buy $806,000,000 Worth of Ethereum (ETH): Lookonchain

An elusive Bitcoin OG whale has offloaded 4,000 BTC – valued at roughly $460 million – to scoop up Ethereum (ETH), according to on-chain data.

Blockchain tracking firm Lookonchain reports that the whale now holds a staggering 179,448 ETH, acquired at an average price of $4,490, which is valued at approximately $806 million.

“The Bitcoin OG moved out another 4,000 BTC ($460M) to buy ETH.

So far, he has bought 179,448 ETH ($806M) at an average price of $4,490, and still holds a 135,265 ETH ($581M) long position.”

A portion of the whale’s stash remains in a long position of 135,265 ETH (approximately $581 million).

Lookonchain reports that other whale wallets are also stacking Ethereum with haste.

According to the firm, wallets linked to Tom Lee’s Bitmine Immersion (BMNR) bought an additional 9,613 ETH worth $45.6M on Sunday, bringing the Ethereum treasury company’s holdings to 1,585,461 coins worth $7.5 billion. 

There are also groups of wallets yet to be identified that are accumulating large amounts of ETH from crypto exchange Kraken and institutional platform Galaxy Digital, according to Lookonchain, citing Arkham data.

Says the firm.

“5 newly created wallets have accumulated $19,332 ETH($92M) in the past 2 days.

Address:
0xDda8E9405CFd9Cdc3D32f2c87a7d01909c5d5A5c
0xa7a503d31465a99B71079afCE56f40431048E24e
0x3c6ad13d6692c6ac194E6D52b49B836fc6161142
0xD30325347E1Ea4A54d838Ad4FFD81a471361Bc82
0x854fCCdb10076f16BDcdaa39d59314172feD2156″

At time of writing, Ethereum is trading at $4,796, trading just below its all-time high of $4,946, which was hit on Sunday.

Generated Image: DALLE3