PANews reported on January 4th that, according to on-chain analyst Yu Jin, a whale who started switching ETH to BTC yesterday continued to exchange 7,828 ETH (US$24.6 million) for 269 WBTC an hour ago today.

He has now converted the vast majority of his ETH holdings into WBTC: a total of 21,973 ETH ($0.69 billion) were exchanged for 761.4 WBTC, with an average cost of $90,491 for WBTC. He now only holds 370 ETH ($1.16 million).