An anonymous investor known as Bitcoin Whale made a significant transaction by allocating $36 million to purchase Ethereum. To do this, he sold 410.14 BTC, which amounts to approximately $34.16 million, on the decentralized trading protocol Hyperliquid. As a result, the whale acquired 14,341 ETH worth approximately $36.14 million through decentralized exchanges. The identity of the investor and the reason for his actions remain unknown. According to blockchain tracker Lookonchain, several UBTC tokens (tokenized bitcoin) were transferred from Hyperunit to the whale's addresses.
Additionally, one of the addresses received 874,576 USDC through the Bridge2 Hyperliquid contract. Accordingly, addresses associated with the whale also received significant amounts of ETH through decentralized trading platforms. For example, approximately 865.07 ETH worth $2.2 million was received from the V2DutchOrderReactor Uniswap contract, and another address received 827.23 ETH, valued at about $2.1 million. The price of Ethereum is currently hovering around $2,553, having increased by approximately 1.85% over the last 24 hours. In comparison, the price of Bitcoin rose by only 0.93% over the same period, although the price of ETH is still down by 6.36% over the past 7 days.
This large purchase comes amid growing activity in Ethereum derivatives. According to CoinGlass, the Ethereum futures market volume in the last 24 hours is approximately $23.15 billion, while spot trading volume is only $1.54 billion. The open interest in the ETH futures market is around $32.06 billion, indicating significant interest with leverage. In the last 24 hours, ETH futures positions worth about $48.12 million were liquidated, with short position liquidations amounting to $38.11 million, while only $10 million was liquidated in long positions.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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