Onchain monitoring platform Onchain Lens shows that an early Bitcoin holder transferred another 1,000 BTC (approximately $108 million) to the decentralized exchange HyperLiquid this morning (the 1st), converting it into ETH. Just yesterday, the same address had already invested 4,000 BTC (approximately $435 million) in exchange for 96,859 ETH.
This seems to have become a daily routine for this whale. Will this rotation continue? The community is buzzing with discussion, with this move becoming a symbolic sign of early OG bullish sentiment towards ETH.
The continuous large-scale transfer from BTC to ETH in a short period of time is equivalent to a "fund transfer" signal. On the one hand, it brings considerable trading depth to HyperLiquid. On the other hand, it also reflects the phased narrative that some long-term early-stage funds are betting on the relative strength of Ethereum.
