Crypto whales split: some sell Bitcoin, others accumulate Ethereum
29.08.2025
Amid the recent market correction, major digital asset holders are showing different strategies. Analysts at Lookonchain reported an investor who had not made any transactions for over 12 years and transferred 750 BTC (around $83.3 million) to Binance. These coins were purchased back in 2013 at $332 per bitcoin. According to experts, his total profit exceeded $510 million. At the same time, the investor still holds another 750 BTC, while a related wallet contains about 2,500 BTC worth more than $276 million.
The community speculates that the investor may be preparing to enter Ethereum. This assumption is supported by the actions of other large players. Earlier it was revealed that another whale, after a seven-year break, bought 62,914 ETH for $270 million. Another sold 670 BTC for $76 million and almost simultaneously purchased 68,130 ETH worth $295 million.
Analysts also noted increased activity from "dormant" ETH holders. On August 26, one such investor, inactive since 2021, withdrew more than 6,334 ETH ($28 million) from the Kraken exchange. According to CoinGecko, during this period Ethereum’s price dropped by 13% – from $4,900 to $4,300 – giving major investors an opportunity to view the decline as a favorable accumulation point.
One of the largest transactions was carried out by an unknown participant who bought $2.55 billion worth of Ethereum through the Hyperliquid platform and immediately locked the asset in staking. In addition, nine related addresses invested $456.8 million in ETH: five via BitGo and the rest through the OTC platform Galaxy Digital. Rising interest in Ethereum is also evident in the corporate sector. Last week, BitMine purchased $2.2 billion worth of ETH, bringing its reserves to 1.7 million ETH with a total value of nearly $7.9 billion. At the same time, spot Ethereum ETFs attracted over $1 billion since August 21, offsetting previous outflows. Currently, more than 9% of the total Ethereum supply is held by exchange-traded funds and public companies.
The activity of crypto whales highlights diverging approaches: while some players are locking in profits from Bitcoin, others are using the correction to build large positions in Ethereum. This dynamic could intensify competition between the two leading crypto assets in the coming months.
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