A major cryptocurrency holder, identified by wallet address 0x55D, executed significant transactions moving $4.31 million worth of Ethereum (ETH) into DAI and Wrapped Bitcoin (WBTC).
The whale sold a total of 1,692 ETH over an eight-hour period, achieving an average price of roughly $2,547 per ETH. The bulk of the transaction, 1,292 ETH, was specifically swapped for the DAI stablecoin.
An additional 400 ETH from the sale was converted into WBTC, representing a strategic allocation shift within the whale’s holdings.
This large-scale activity underscores ongoing strategic portfolio rebalancing within the Ethereum ecosystem, involving significant movements between ETH, a major stablecoin, and a Bitcoin derivative. Such substantial swaps can potentially test market depth and influence price stability across relevant decentralized finance (DeFi) trading pools due to their size and reliance on available liquidity.