A serious Bitcoin holder deposited 2,000 Bitcoin—value bigger than $216 million—to Hyperliquid’s replace and methodically offered it into Ethereum, primarily based fully on files from network block explorer Hypurrscan.
The tackle ending in “eCb43” first got 1,000 BTC value round $108 million right thru two transactions round 10:57 a.m. ET this morning. Rapidly thereafter, the yarn began promoting diminutive batches of Bitcoin for Ethereum, ceaselessly promoting 1-1.5 BTC at a time and shopping the corresponding quantity in ETH till its Bitcoin was exhausted.
It later re-upped with but one more 1,000 deposit, following the the same playbook before eventually transferring the total Ethereum—bigger than 42,750 ETH—out of its wallet.
On-chain analytics company Arkham Intelligence has connected the tackle to others that collectively help $5 billion value of Bitcoin, and one which deposited as a minimum $800 million value of Bitcoin to Hyperunit on August 24. Hyperunit is a platform that allows native tokens like Bitcoin and Ethereum to be deposited and eventually traded on Hyperliquid.
“A whale keeping over $5 billion of BTC is for the time being searching for ETH. He simply moved $1.1 billion of BTC to a new wallet and has began shopping ETH thru Hyperunit/HL,” Arkham posted on X. “This whale offered $2.5 billion of ETH final week, and he’s restful searching for.”
BREAKING: $5 BILLION BTC WHALE BUYING UP TO $1 BILLION $ETH
A whale keeping over $5B of BTC is for the time being searching for $ETH. He simply moved $1.1 BILLION of BTC to a new wallet and has began shopping ETH thru Hyperunit/HL.
This whale offered $2.5 BILLION of ETH final week, and… pic.twitter.com/cMQWrYBmZb
— Arkham (@arkham) August 29, 2025
Closing week, a Bitcoin whale carried out the the same commerce, opting to swap some of its BTC for a levered $75 million value of long positions on ETH.
Bitcoin whales had been coming alive of dead. One Bitcoin billionaire currently made the supreme transfer of “used BTC,” or coins which haven’t moved in 10 years, in history when it transferred bigger than $8 billion value.
Later, that very same Bitcoin OG cashed out bigger than $9 billion of the tip crypto asset, promoting bigger than 80,000 Bitcoin purchased within the Satoshi-generation by capability of crypto asset company, Galaxy Digital.
Each Bitcoin and Ethereum are trading round 4% decrease on Friday, changing hands for $108,196 and $4,318, respectively.
