Whale Sells 1,308 Bitcoin, Buys 40,670 Ether and Stakes All of It

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A cryptocurrency whale swapped $104 million worth of Bitcoin for Ether over the past six days and staked all of the tokens it bought, according to on-chain data.

Lookonchain said on Sept. 22 that the whale exchanged 200.71 Bitcoin for 6,247 Ether. The two sides of the trade were each worth about $17.2 million.

Over the six-day period, the whale sold a total of 1,308 Bitcoin and bought 40,670 Ether. The Bitcoin sold was worth a combined $104 million at the time of the transactions.

The whale staked all of the Ether it purchased. The move points to continued demand for staking Ether rather than holding it for short-term trading.