Bitcoin whales rotate into Ether, despite $5B ETH validator exit queue
Bitcoin whales are selling significant amounts of Bitcoin to invest in Ether, indicating a market shift towards altcoins with higher potential. This rotation is evident as nine major whale addresses purchased $456 million in Ether. The Ethereum validator queue has reached an all-time high of nearly $5 billion, extending withdrawal times to 18 days and raising concerns about selling pressure. Despite this, analysts suggest the market dynamics reflect healthy trends, with institutional demand for Ethereum absorbing potential sales from validators. In other news, the YZY token linked to Kanye West has seen over 51,000 traders incur losses, while only a few made substantial profits. Hyperliquid's token gained nearly 4% after predictions of a 126x increase over three years were made at a conference in Tokyo. Most cryptocurrencies ended the week lower, with OKB experiencing a 25% drop.
