Gold prices have soared to record highs amid heightened global uncertainty. Trade war concerns and macro pressures drove investors toward safe-haven assets. Spot gold crossed the $4,689 per ounce mark. This move confirms the strong demand for traditional value stores. Precious metals benefited from heightened geopolitical stress. This rally put gold at the center of market attention.
Gold has hit a new all-time high!
Whale 0x4b6c exchanged 326 $XAUT($1.53M) and 10,978 $SLVON($936K) for 724 $Ethereum($2.4 million) in the last 30 minutes https://t.co/toTK1zZmTj pic.twitter.com/Mfq998LJQ2
— Lookonchain (@lookonchain) January 20, 2026
Whales engage in rapid asset rotation
During this ascent, a large whale on the chain made a remarkable move. The wallet, identified as 0x4b6c, was operational for a short period of time. It was exchanged for 326 XAUT worth approximately $1.53 million. Additionally, 10,978 SLVON units valued at nearly $936,000 were sold. These transactions took place within 30 minutes. The timing was remarkable given the record price of gold.
Whale used the proceeds to purchase Ethereum. Total 724 Ethereum Obtained. The purchase price was close to $2.4 million. The swap included an intermediate stage of liquid assets. The goal was clear and direct. Wallets have completely switched from metal to cryptocurrencies. After the transaction, Ethereum became the only major holding.
On-chain data shows clean execution
Transaction data shows a smooth execution path. The swap happened quickly with no visible delays. There were no significant balances in other assets. Only a small balance is held in the wallet. This suggests a deliberate withdrawal rather than a rebalance. The whales did not hedge or disperse after this move. The decision appeared to be firm and final.
Tokenized gold and silver mirror real-world metals. Selling at an all-time high often signals profit-taking. However, the choice to move to Ethereum is important. It suggests belief in the upside of cryptocurrencies. Some investors are now Ethereum As a storage of digital values. This shift reflects a shift in perspective in uncertain times. Cryptocurrency is no longer just a risky asset.
Market conditions support rotation
Ethereum remains one of the most liquid crypto assets. It offers staking yields and strong network usage. At the same time, metals are facing slower upside after reaching record highs. Some investors prefer assets with growth potential. Ethereum It fits that profile well in a bullish cycle. Whales’ movements are consistent with this idea. This reflects confidence in highly volatile cryptocurrencies.
Whale behavior often influences market sentiment. Traders are closely monitoring large-scale rotations. Transition from metal to metal Ethereum The peak of the gold price is symbolic. This may indicate expectations for the strength of cryptocurrencies in the future. No single wallet defines a trend, but it adds context. Investors will be watching to see if a similar rotation continues. So far, the move highlights a clear shift in confidence.
