Whale Sells 1,692 ETH Worth $4.31M in 8 Hours, Swapping Majority for DAI and WBTC

COINOTAG News reports that a prominent whale wallet, identified by the prefix 0x55D, has liquidated a total of 1,692 ETH over the last eight hours, equating to roughly $4.31 million. The average transaction price stood at approximately $2,547 per ETH. Notably, the majority of these assets, around 1,292 ETH, were converted into DAI stablecoins, while the remaining 400 ETH were exchanged for Wrapped Bitcoin (WBTC). This activity underscores a strategic portfolio rebalancing by a significant market participant, reflecting ongoing liquidity movements within the Ethereum ecosystem. Such large-scale swaps between ETH, DAI, and WBTC highlight the dynamic interplay between major cryptocurrencies and stablecoins, which can influence market depth and price stability in decentralized finance (DeFi) environments.