PANews reported on January 3 that, according to on-chain analyst Ember, a whale who has held ETH for four years has switched its ETH holdings to BTC today: it has sold 14,145 ETH (US$44.3 million) and exchanged them for 492 WBTC at an exchange rate of 0.03478, with an average cost of US$90,014 for WBTC.

Four years ago (early 2022), the whale withdrew and hoarded 22,344 ETH (US$65.15 million) from exchanges such as Kraken, Bitfinex, and Poloniex, at an average price of US$2,916.