Bitcoin for Ethereum: This whale is now shifting his assets

INFBusiness
31.08.2025
Markets

A Bitcoin whale deposited 2,000 BTC, equivalent to approximately $216 million, on Hyperliquid and gradually exchanged it for Ethereum, according to data from the block explorer Hypurrscan.
The address ending in “eCb43” previously received two deposits of 1,000 BTC each and sold in small tranches of approximately 1 to 1.5 BTC in ETH until the Bitcoin balance was depleted.
In total, the trader ended up withdrawing about 42,750 ETH from the wallet.
Shortly afterwards, the analysis service Arkham Intelligence came forward and linked the address to other wallets that together hold about $5 billion in Bitcoin.
One of the linked addresses transferred at least $800 million to Hyperunit, the deposit infrastructure for trading on Hyperliquid, on August 24. Further transfers could therefore occur.
Arkham announced on X that the whale had also moved approximately $1.1 billion in Bitcoin to a new wallet and continued to buy ETH via Hyperunit/Hyperliquid; approximately $2.5 billion in Ethereum had already been purchased the previous week.
Whales are taking advantage of the recent market turmoil to shift their assets into Ethereum. Hyperliquid appears to be very popular with large investors. Read what makes the platform so popular here: Why Hyperliquid is so revolutionary
Bitcoin and Ethereum have suffered significant price declines in recent days. The leading cryptocurrency briefly fell below the $108,000 mark.
You can read about what the Bitcoin price could do in the short term here: Bitcoin: The cryptocurrency is facing a volatile month

Recommended Video Ethereum ATH – Bitcoin in the Cellar: What Happens Next?