Bitcoin whale swaps BTC for ETH: a holder deposited 2,000 BTC (~$216 million) to Hyperliquid and systematically sold into Ethereum, acquiring more than 42,750 ETH in small batches before moving the ETH out of the wallet.
2,000 BTC (~$216M) converted to 42,750+ ETH via Hyperliquid/Hyperunit
Trades executed in micro-sells (1–1.5 BTC per batch) to buy ETH; strategy repeated across two 1,000 BTC deposits.
On-chain analytics firm Arkham Intelligence links the address to wallets holding roughly $5 billion in BTC and reports prior multi-billion ETH purchases.
Bitcoin whale swaps BTC for ETH: 2,000 BTC (~$216M) converted to 42,750+ ETH on Hyperliquid. Read on-chain analysis and market impact now.
What happened when a Bitcoin whale swapped BTC for ETH?
Bitcoin whale swaps BTC for ETH after depositing 2,000 BTC in two batches to Hyperliquid/Hyperunit and selling incrementally into Ethereum. The wallet bought small amounts of ETH—often converting 1–1.5 BTC at a time—until more than 42,750 ETH was acquired and subsequently transferred out.
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On-chain data from a network block explorer identified an address ending in “eCb43” receiving two deposits of 1,000 BTC each. The address sold BTC in methodical micro-batches and purchased ETH repeatedly until BTC holdings were exhausted.
On-chain analytics firm Arkham Intelligence publicly linked the address to related wallets collectively holding roughly $5 billion in BTC and noted recent large ETH purchases. Arkham posted that the same whale moved $1.1 billion of BTC to a new wallet and was buying ETH through Hyperunit and Hyperliquid.
The whale deposited 2,000 BTC—valued at approximately $216 million at the time—and ended up with more than 42,750 ETH after sequential BTC-to-ETH swaps. The initial two 1,000 BTC deposits arrived within hours of each other, and trades were executed primarily in 1–1.5 BTC increments.
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Source: https://en.coinotag.com/bitcoin-whale-appears-to-swap-216m-in-btc-for-ethereum-as-on-chain-data-suggests-continued-eth-buying/