Bitcoin whale holding over $5 billion in assets has made waves in the cryptocurrency market by transferring $1.1 billion worth of Bitcoin (BTC) to buy Ethereum (ETH), according to blockchain analytics firm Arkham Intelligence. This latest move, reported on August 29, 2025, follows a $2.5 billion ETH acquisition by the same entity last week, signaling a potential shift in institutional investment strategies. The transaction, executed through the Hyperliquid platform, has fueled a surge in Ethereum’s value while putting pressure on Bitcoin’s price.
The whale, whose portfolio includes multiple dormant addresses reactivated for this spree, moved 10,000 BTC—valued at approximately $1.08 billion based on current market rates—to a new wallet before converting a portion into ETH. Arkham’s data, detailed in a series of posts on X, highlights specific BTC addresses involved, including 169qYZJYkyW7HhmWTj58mVXRZDhMFHPZPd and 17MWdxfjPYP2PYhdy885QtihfbW181r1rn. This activity marks the first significant transaction from these wallets in over five years, suggesting a deliberate strategic pivot.
Ethereum, the second-largest cryptocurrency by market capitalization, has seen growing interest due to its proof-of-stake model, which allows investors to earn staking yields of 3-5% annually, according to ConsenSys, a leading Ethereum software company. Unlike Bitcoin’s energy-intensive proof-of-work system, Ethereum’s design supports decentralized finance (DeFi) applications and tokenized assets, attracting institutional players. The recent Genius Act, a U.S. law signed into effect on July 18, 2025, further bolsters this trend by establishing a regulatory framework for stablecoins—90% of which are built on Ethereum—enhancing its appeal for compliance-focused investors.
Market analysts have noted the timing of this whale’s actions coincides with a broader rotation of capital. Galaxy Research reported that Ethereum’s price has surged 102% over the past 90 days, outpacing Bitcoin’s 22% gain in the same period. This shift is reflected in the ETH/BTC trading ratio, which has risen 32.9% in the last month, according to on-chain data. The whale’s purchases have contributed to a 10% price increase in ETH, while Bitcoin experienced a corresponding 10% drop, as tracked by CoinGecko on August 29.
The Hyperliquid platform, a layer-1 blockchain optimized for financial applications, facilitated the trade, processing it with block latency under one second, per its official documentation. This efficiency has made it a preferred choice for large-scale transactions. Meanwhile, the whale’s earlier $2.94 billion purchase of 641,508 ETH, as reported by Lookonchain, underscores a sustained commitment to Ethereum, with the latest $1 billion move reinforcing this trend.
Industry experts suggest this activity could signal a maturing crypto market. The U.S. Securities and Exchange Commission’s 2024 classification of Ethereum as a utility token, combined with the European Union’s Markets in Crypto-Assets (MiCA) framework, has reduced legal uncertainties, encouraging institutional adoption. Ethereum’s ecosystem now boasts over $97 billion in DeFi total value locked (TVL), per Ainvest, highlighting its role as a foundational blockchain.
Reactions on X have ranged from excitement to skepticism. Users like @MaxCryptoxx hailed the move as a catalyst for an “altseason,” predicting ETH could reach $5,000, while @ethiopost expressed frustration over ETH’s price dips despite the buying spree. Arkham Intelligence, which tracks whale movements using advanced analytics, emphasized the transparency of these transactions, offering a window into market dynamics.
On August 30, 2025, the crypto community awaits further moves from this whale, whose actions could reshape investment strategies in the evolving digital asset landscape. For now, the focus remains on Ethereum’s growing utility and the broader implications of this high-stakes market rotation.
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