Institutional Whale Transfers 400 WBTC to Hyperliquid, Converts to 10,493 ETH (~$45.1M)

COINOTAG reported on August 21 that, according to on‑chain monitoring by Ember Group, a whale/institution moved 400 WBTC to Hyperliquid within a three‑hour window, triggering an on‑platform disposition.

The transfer was recorded as being exchanged for 10,493 ETH, representing an approximate notional value of $45.11 million, a size that materially increases short‑term order flow and impacts available liquidity on the venue.

Market participants and risk managers monitoring whale transfers and on‑chain liquidity should assess order‑book depth, potential slippage and counterparty execution risk in response to such sizable movements.

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