What to Know An unidentified Bitcoin whale sold 410.14 BTC worth $34.16 million and acquired 14,341 ETH valued at approximately $36.14 million. Ethereum gained 1.85% against Bitcoin’s 0.93% i
An unidentified Bitcoin whale has sold 410.14 BTC worth $34.16 million and purchased 14,341 ETH valued at approximately $36.14 million. According to blockchain analytics platform Lookonchain, the investor executed the transactions through Hyperliquid and several decentralized cryptocurrency exchanges.
The transactions represent a substantial shift from Bitcoin into Ethereum as the second largest cryptocurrency records stronger daily price performance. Blockchain records reveal that the investor received multiple transfers of UBTC, a tokenized Bitcoin asset, through Hyperunit.
Additionally, one associated wallet received 874,576 USDC through Hyperliquid’s Bridge2 contract, indicating further movement of funds between trading platforms. The investor’s identity remains unknown, and available blockchain records do not establish the motivation behind the substantial cryptocurrency transactions.
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Further blockchain data reveals that the whale accumulated Ethereum through multiple decentralized transactions involving addresses connected to the investor. One address received approximately 865.07 ETH worth $2.2 million through Uniswap’s V2DutchOrderReactor contract during the buying activity.
Another associated wallet acquired 827.23 ETH valued at approximately $2.1 million through the same decentralized trading contract. Meanwhile, Ethereum has outperformed Bitcoin over 24 hours, recording stronger gains despite recent weakness across the broader cryptocurrency market.
ETH traded near $2,553, representing a 1.85% increase, while Bitcoin registered a comparatively smaller gain of 0.93%. Despite its stronger daily performance, Ethereum remained approximately 6.36% lower over seven days, reflecting sustained pressure on cryptocurrency valuations.
Market data also shows substantial activity across Ethereum derivatives, with futures trading volumes significantly exceeding transactions in spot markets. According to CoinGlass, Ethereum futures recorded approximately $23.15 billion in trading volume, compared with $1.54 billion across spot markets.
A mysterious whale is selling $BTC and buying $ETH!
The whale sold 410.14 $BTC ($34.16M) on #Hyperliquid, then bought 14,341 $ETH ($36.14M) on DEXs.https://t.co/ZeoRQN9VlHpic.twitter.com/r5hMRbQs7z
— Lookonchain (@lookonchain) October 12, 2026
Furthermore, Ethereum futures open interest stood near $32.06 billion, indicating substantial outstanding positions across cryptocurrency derivatives exchanges. Liquidation figures revealed that traders holding bearish Ethereum positions experienced greater losses during the cryptocurrency’s recent price recovery.
Short positions accounted for approximately $38.11 million of the $48.12 million liquidated, while long positions represented roughly $10 million. These figures show that bearish traders faced considerably greater liquidation pressure as Ethereum recorded stronger daily gains than Bitcoin.
The whale’s transactions highlight substantial capital movement between Bitcoin and Ethereum alongside increased participation in Ethereum derivatives markets. While blockchain records confirm the purchases, the investor has not publicly disclosed any strategy or explanation for the portfolio changes. Ethereum’s stronger daily performance and elevated futures activity provide additional market context surrounding the whale’s $36.14 million acquisition.
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