PANews reported on January 27 that, according to on-chain analyst @ai_9684xtpa, a "whale that held ETH for 4 years and then switched to WBTC" has once again switched WETH back to WBTC, seemingly trading its more than $50 million in exchange rates.

• January 3: Exchanged 14,145.93 WETH for 492.16 WBTC (US$44.195 million), with an ETH/BTC exchange rate of 0.03479.
• January 26: Exchanged 578.66 WBTC for 17706.74 WETH (US$50.33 million), with an ETH/BTC exchange rate of 0.03268.
• January 27: Exchanged 17,706.74462 WETH for 587.92 WBTC (US$51.46 million), with an ETH/BTC exchange rate of 0.0332.

The last time I swapped my holdings, I gained 6.45% more ETH. This time, I made a profit of 9.26 WBTC (approximately $810,000).