A wealthy Bitcoin holder is exchanging some of their long-held gains for Ethereum, swapping $216 million worth of BTC for ETH on Friday. In brief A Bitcoin whale connected to wallets holding $5 billion in BTC is dumping some holdings for Ethereum. The holder deposited at least 2,000 BTC on Hyperliquid, selling it in batches for ETH. Other Bitcoin whales have played a similar trade of late as ETH rose to a new all-time high price.
A major Bitcoin holder deposited 2,000 Bitcoin—worth more than $216 million—to Hyperliquid’s exchange and methodically sold it into Ethereum, according to data from network block explorer Hypurrscan.
The address ending in “eCb43” first received 1,000 BTC worth around $108 million across two transactions around 10:57 a.m. ET this morning. Shortly thereafter, the account began selling small batches of Bitcoin for Ethereum, often selling 1-1.5 BTC at a time and purchasing the corresponding amount in ETH until its Bitcoin was exhausted.
It later re-upped with another 1,000 deposit, following the same playbook before ultimately transferring all of the Ethereum—more than 42,750 ETH—out of its wallet.
On-chain analytics firm Arkham Intelligence has connected the address to others that collectively hold $5 billion worth of Bitcoin, and one that deposited at least $800 million worth of Bitcoin to Hyperunit on August 24. Hyperunit is a platform that allows native tokens like Bitcoin and Ethereum to be deposited and ultimately traded on Hyperliquid.
“A whale holding over $5 billion of BTC is currently buying ETH. He just moved $1.1 billion of BTC to a new wallet and has started purchasing ETH through Hyperunit/HL,” Arkham posted on X. “This whale bought $2.5 billion of ETH last week, and he’s still buying.”
Bitcoin whales have been coming alive of late. One Bitcoin billionaire recently made the largest transfer of “old BTC,” or coins which haven’t moved in 10 years, in history when it transferred more than $8 billion worth.
Very interesting information! In this case, no matter what’s
the purpose of this particular investor, the BTC's down in this short period may not need to be very concerned, the market will balance it out on the road. What's your thoughts Lionhill?
A major Bitcoin holder deposited 2,000 Bitcoin—worth more than $216 million—to Hyperliquid’s exchange and methodically sold it into Ethereum, according to data from network block explorer Hypurrscan.
The address ending in “eCb43” first received 1,000 BTC worth around $108 million across two transactions around 10:57 a.m. ET this morning. Shortly thereafter, the account began selling small batches of Bitcoin for Ethereum, often selling 1-1.5 BTC at a time and purchasing the corresponding amount in ETH until its Bitcoin was exhausted.
It later re-upped with another 1,000 deposit, following the same playbook before ultimately transferring all of the Ethereum—more than 42,750 ETH—out of its wallet.
On-chain analytics firm Arkham Intelligence has connected the address to others that collectively hold $5 billion worth of Bitcoin, and one that deposited at least $800 million worth of Bitcoin to Hyperunit on August 24. Hyperunit is a platform that allows native tokens like Bitcoin and Ethereum to be deposited and ultimately traded on Hyperliquid.
“A whale holding over $5 billion of BTC is currently buying ETH. He just moved $1.1 billion of BTC to a new wallet and has started purchasing ETH through Hyperunit/HL,” Arkham posted on X. “This whale bought $2.5 billion of ETH last week, and he’s still buying.”
Last week, a Bitcoin whale played the same trade, opting to swap some of its BTC for a levered $75 million worth of long positions on ETH.Bitcoin whales have been coming alive of late. One Bitcoin billionaire recently made the largest transfer of “old BTC,” or coins which haven’t moved in 10 years, in history when it transferred more than $8 billion worth.
Later, that same Bitcoin OG cashed out more than $9 billion of the top crypto asset, selling more than 80,000 Bitcoin acquired in the Satoshi-era via crypto asset firm, Galaxy Digital.
Both Bitcoin and Ethereum are trading around 4% lower on Friday, changing hands for $108,196 and $4,318, respectively.
the purpose of this particular investor, the BTC's down in this short period may not need to be very concerned, the market will balance it out on the road. What's your thoughts Lionhill?
investment, btw is still the majority.
照片里的你笑的好开心，没有了你文字里的“清高和傲气”LOL 我向你赔不是，总是开你玩笑说你清高傲气
太太漂亮，皮肤真好！那时还没有宝贝女儿是吗？
就羡慕嫉妒
你有没有看到昨晚我在你博客的那篇你写你和太太在1998-2000年文章的留言？干脆把文章搬这里来，让大家一起讨论，好吗？
看来高个子也可以很聪明哒，bogbog 172, 你看她多机灵，一手好股全是penny 时买的
担心双方的时间，不过昨晚想来想去，待会还是把我的全家福悄悄发给你吧，这里人实在太多，怕怕
第一二张～ 儿子5-6岁我们回上海的全家福，唐装
3-4，我躲在先生和儿子背后冲浪LOL
5- 儿子去年和同学在阿根廷旅游
6- 儿子今年初和他爸爸妈妈在米兰弗洛伦萨度假时的，我的朋友都说他整一个阿兰德龙的模样
哦，忘了，我再去补一张他和小女友的照片给你
甜酒甜也喜欢冲浪，lol，你知道为啥我们三个合得来了吧
三心曾说过你我都是喜欢上天入地的人
和你有一拼了
甜酒说晒得黑黑的好漂亮，我说白的时候也漂亮的呀
我喜欢你你更多
唯一不足就是没有我和儿子的艺术细胞
bog,我对文字很敏感，可以读出你的阳光，幸福和你先生及朋友们对你的宠爱，你也很幸运! luv
被晒得黑漆漆的西方野人LOL bog, 别去在意那少少的几个人的评论，你的生活太精彩，太令人羡慕嫉妒
我喜欢白皮肤的你，也喜欢晒得健健康康的你