Bitcoin Whale Transfers $34M to Hyperliquid for Ethereum Acquisition

23/08/2025 15:15

A prominent Bitcoin holder has transferred 300 BTC, worth approximately $34.86 million, to the Hyperliquid exchange to purchase Ethereum. The transaction, which took place an hour ago, reflects a strategic shift as the trader holds a long position of 135,265 ETH valued at $581 million, with unrealized gains of $58 million. Additionally, the trader has acquired 122,226 ETH on spot markets, valued at $535 million, resulting in $42 million in unrealized profits. This move underscores a bullish sentiment towards Ethereum, drawing interest from both retail and institutional investors.

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