Bitcoin Whale Sitting on $5 Billion Dumps More BTC to Buy Ethereum

An important bitcoin holder 2,000 Bitcoin deposited—Worth more than $ 216 million – to the exchange of hyperliquid and this methodically sold in Ethereum, according to data from Network Block Explorer Hypurrscan.

The address that ended in “ECB43” first received 1,000 BTC worth around $ 108 million in two transactions around 10:57 am Shortly thereafter, the account began to sell small parties Bitcoin for Ethereum, often selling 1-1.5 BTC at the same time and to buy the corresponding amount in ETH until the Bitcoin was exhausted.

It drove again later with another 1,000 deposit, according to the same Playbook before it ultimately transfers all Ethereum-Lake than 42,750 ETH-van’s wallet.

Analytics company Arkham Intelligence at the chain has the address associated with others who jointly have $ 5 billion in Bitcoin, and one that at least $ 800 million deposited WORTH of Bitcoin to Hyperunit on 24 August. Hyperunit is a platform with which indigenous tokens such as Bitcoin and Ethereum can be dropped off and eventually traded on hyperliquid.

“A whale with more than $ 5 billion BTC currently buys ETH. He has just moved $ 1.1 billion BTC to a new wallet and started buying ETH via Hyperunit/HL,” Arkham posted on X. “This whale bought $ 2.5 billion from ETH last week and he still buys.”

Last week a Bitcoin -Walvis played the same exchange and chose to exchange part of his BTC for a lever $ 75 million in long positions on ETH.

Bitcoin whales have come to life lately. A Bitcoin billionaire recently made the largest transfer of ‘Old BTC“Or coins that have not been moving for 10 years, in history when it was worth more than $ 8 billion.

Later, the same Bitcoin OG more than $ 9 billion of the best crypto assets made upSell ​​more than 80,000 Bitcoin taken over in the Satoshi era via Crypto Asset Firm, Galaxy Digital.

Both Bitcoin and Ethereum act about 4% lower on Friday and change hand for $ 108.196 and $ 4,318 respectively.