A prominent cryptocurrency whale continued building their portfolio in July by acquiring a significant amount of Wrapped Bitcoin (WBTC) alongside Ethereum (ETH).
Data from on-chain analytics platform Ai Yi shows the investor pulled 120 WBTC, worth about $7.8 million, from a crypto exchange within the last two hours. This move adds to their already sizable holdings and signals ongoing accumulation.
Massive portfolio growth in July
Since early July, the whale has bought a total of 59,404.19 ETH and 820 WBTC, currently valued around $156 million. The average acquisition price sits near $1,742 per Ethereum and $64,329 per Wrapped Bitcoin. Market recovery has pushed unrealized gains on this portfolio to nearly $8.93 million.
Generally, transferring assets off exchanges to private wallets suggests a long-term holding strategy. Many view this as a sign of confidence from institutional or wealthy investors in these cryptocurrencies.
Still, experts caution that a single whale’s activity can be driven by various factors like portfolio adjustments or custody changes, so it shouldn’t be seen as a market-wide signal.
