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Remarkable ETH transactions from a 100,000 Bitcoin wallet that hasn't been touched for 7 years.
The owner of a wallet that hasn't been touched since 2018 has recently started selling their Bitcoins to buy Ether.
According to data compiled by Lookonchain, the wallet first purchased 100,784 BTC 7 years ago. It hadn't touched these until the day before yesterday. On Wednesday, it bought approximately 63,000 ETH worth 270 million dollars and also opened a leveraged position worth 135,265 ETH totaling 580 million dollars.
In recent weeks, many old Bitcoin investors have opened their wallets that they had not touched and made billions of dollars in sales. Some preferred to switch from Bitcoin to Ethereum. This transition drew attention as it occurred during a period when Bitcoin had fallen from its peak of 124 thousand dollars to 112 thousand dollars, while Ethereum remained relatively more resilient at 4 thousand 300 dollars.
A similar situation is also seen in spot exchange-traded funds with (ETF). In recent weeks, investments in Ethereum-based ETFs have outpaced Bitcoin ETFs. Data provided by SoSoValue shows that on the trading day yesterday, there was an outflow of 194 million dollars from Bitcoin ETFs, while there was an inflow of 288 million dollars into Ethereum ETFs.
As of 1:50 PM Turkey time, Bitcoin is finding buyers at 112,500 dollars while Ethereum is trading at 4,300 dollars.
Published: August 22, 2025 13:58