So I recently heard about the 3rd largest BTC whale sending all of their roughly $3 billion worth of bitcoin to another wallet.
I then saw today on WhaleAlerts Twitter there had been some very large ETH transactions recently. here is an example of half a billion dollars worth of ETH being sent.
It seemed these transactions were all being sent to this address. Funnily enough amounting to around $3 billion worth, and all transactions incoming in the same few days the Bitcoin whale was sending to Coinbase.
It’s definitely circumstantial evidence but the timings are very convincing. If the wallet that sent the ETH can be identified as Coinbase I would be very sure of this theory.
I’m going to look more into these addresses later when I’m free. I would also appreciate if anyone else could find any evidence for against this theory. It would definitely be interesting if the biggest non exchange BTC wallet had converted to ETH.
Edit: it seems that ETH address is now the largest unknown ETH address.
Edit 2: someone mentioned the BTC ended up in this address. This could still be Coinbase’ wallet, they would likely move it out of the hot wallet and into a cold wallet. Why would the whale send to Coinbase then immediately send out again?