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BTC Whale Makes Large Transfer to Hyperliquid for ETH Swap
ByAinvest
Sunday, Aug 31, 2025 5:34 am ET1min read
A high-profile Bitcoin (BTC) whale has transferred 2000 BTC (worth $218.24 million) to Hyperliquid for an Ethereum (ETH) swap, marking the whale's latest transaction. This is the third time in the past month that the whale has made a similar move, indicating ongoing interest in ETH. The whale's activities have been monitored by Onchain Lens.
A high-profile Bitcoin (BTC) whale has transferred 2,000 BTC (worth $218.24 million) to Hyperliquid for an Ethereum (ETH) swap, marking the whale's latest transaction. This is the third time in the past month that the whale has made a similar move, indicating ongoing interest in ETH. The whale's activities have been monitored by Onchain Lens [1].The whale deposited 2,000 BTC in two batches of 1,000 BTC each to Hyperliquid and systematically sold into Ethereum, acquiring more than 42,750 ETH in small batches before moving the ETH out of the wallet. This methodical approach to swapping BTC for ETH aims to minimize market impact and reduce slippage, allowing the whale to accumulate ETH at more favorable prices [1].
On-chain analytics firm Arkham Intelligence linked the address to wallets holding roughly $5 billion in BTC and reported prior multi-billion ETH purchases. The whale's latest swap follows a pattern of strategic BTC-to-ETH conversions, suggesting a diversification strategy or a belief in Ethereum's long-term value proposition [1].
The whale's actions could have several implications for the market. Firstly, it signals a potential shift in long-term holding strategies among high-profile Bitcoin holders. Secondly, it increases demand for Ethereum, which may influence its price dynamics. Lastly, it validates the use of decentralized exchanges like Hyperliquid for large-scale transactions [1].
As the crypto market continues to evolve, such strategic moves by whales can provide valuable insights into market sentiment and potential future trends. Investors and financial professionals should closely monitor these activities for immediate market signals and potential follow-on flows.
References:
[1] https://en.coinotag.com/bitcoin-whale-appears-to-swap-216m-in-btc-for-ethereum-as-on-chain-data-suggests-continued-eth-buying/
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