Two Ancient Whales Sell 9,142 BTC to Accumulate 342,847 ETH (Ethereum) Worth $1.63B — $110M Profit
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
COINOTAG on August 24 reported two crypto ancient whales executing a sizable reallocation from Bitcoin to Ethereum. Whale 1 sold 6,000 BTC (≈$690m at $115,000) and acquired 152,494 ETH (≈$724m at $4,750), while Whale 2 sold 3,142 BTC (≈$360m) to buy 55,090 ETH (≈$262m), according to on-chain trackers.
Combined, the two entities divested 9,142 BTC (≈$1.05bn) to accumulate 207,584 ETH spot positions (≈$986m). Additionally, the cohort holds a 135,263 ETH perpetual long with a notional value of roughly $643m, underscoring substantial cross-product market exposure.
Aggregating spot and derivative holdings, the reported total position stands at 342,847 ETH (≈$1.63bn) with a stated P&L of about $110m from the ETH/BTC conversion trade, highlighting notable institutional-scale portfolio rotation without implying future price outcomes.