According to ChainCatcher, according to Ember's monitoring, a whale or institution that moved BTC to ETH the day before continued today to sell 404 BTC (worth $38.84 million) through the cross-chain exchange tool THORChain, converting it into 11,533 ETH. Over the two days, they have converted a total of 686.1 BTC (worth $65.17 million) into 19,631 ETH, with an average ETH exchange price of $3,302.
Whale Converts $38.84M BTC to ETH via THORChain in Two Days
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Summary
A whale or institution converted 404 BTC ($38.84M) to ETH via THORChain on January 16, 2026, receiving 11,533 ETH. This follows a $26.33M BTC-to-ETH swap on January 14. Total BTC moved: 686.1 ($65.17M), at an average ETH price of $3,302. The ETH price remains under close watch as altcoins gain traction amid large cross-chain activity.
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