A well-known participant in the cryptocurrency market, who previously held significant amounts of Bitcoin, has made a large-scale transition to Ethereum. Over the past week, this so-called “whale” sold large volumes of BTC and acquired nearly 900,000 ETH for around $4 billion, marking a notable event in the market.
This is reported by Business • Media
Details of the Transactions and Market Dynamics
According to the analytics company Lookonchain, the player initially sold 2,000 BTC for approximately $215 million, and within four hours, purchased 48,942 ETH. The day before, he had sold another 4,000 BTC and acquired 96,859 ETH. Thus, the total acquisitions of Ethereum amounted to 886,317 tokens, equivalent to nearly $4 billion at the current exchange rate.
According to Arkham Intelligence, this whale had not shown any activity for seven years. Just one week after returning to the market, he invested over $2.5 billion in Ethereum, even though his Bitcoin wallet contained more than $5 billion.
Trends Among ETFs and Market Impact
The whale’s activity coincided with market trends: in August 2025, Bitcoin ETFs experienced a significant outflow of funds — $751 million, while Ethereum ETFs recorded an inflow of $3.87 billion. This indicates a shift in investor interest towards the second-largest cryptocurrency by market capitalization.
“Such large transactions, according to analysts, often impact the market as a whole, as other traders tend to mimic the strategies of whales.”
It was also noted that in August 2025, Bitcoin reached an all-time high, rising above $124,000, but subsequently entered a correction phase and ended the month down 6.49%. This broke its four-month growth streak. Meanwhile, August was a record month for Ethereum: its value increased by nearly 19%, reaching an all-time high above $4,900.