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ETH attracts $8 billion from Bitcoin whale rotation and institutional investors
Ethereum (ETH) trades around $4,300 on Monday after attracting nearly $8 billion in capital inflows across a $4 billion Bitcoin whale rotation and $3.95 billion into ETH investment products throughout August. A key Bitcoin whale initiated a strategic capital rotation from BTC to ETH on Monday. The Bitcoin OG sold 2,000 BTC worth $215 million and shifted the entire proceeds to purchase 48,942 ETH, according to smart money wallet tracker Lookonchain. The whale had earlier sold 5,000 BTC to purchase over $540 million worth of ETH in two separate transactions on Sunday. The whale's large rotation marks the continuation ... (full story)
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