"Bitcoin whale deposits 1000 BTC into Hyperliquid…intends to convert to Ethereum"
Minseung Kang
Summary
- "It was reported that a large Bitcoin holder deposited 1000 BTC to the Hyperliquid platform."
- "The deposited Bitcoin is said to be expected to be converted into Ethereum."
- "It was reported that a shift of funds from Bitcoin to Ethereum has recently been observed among whale investors."
A large Bitcoin (BTC) holder was confirmed to have deposited about $108,000,000 (about 149 billion won) worth of Bitcoin into the Hyperliquid platform. The funds are reportedly going to be converted into Ethereum (ETH).
On the 29th, crypto-focused media Foresight News reported that on-chain analysis platform OnChainLens said, "A Bitcoin whale deposited 1000BTC into Hyperliquid's deposit/withdrawal infrastructure HyperUnit."
The outlet explained, "The amount is said to be intended to exchange Bitcoin for Ethereum." Analysts note that recently a trend of reducing Bitcoin and buying Ethereum has been observed among some whale investors.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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