Bitcoin Whale Makes Massive $36 Million Ethereum Bet

An enigmatic Bitcoin whale has just taken a huge $36 million bet on Ethereum by dumping hundreds of BTC to gobble up thousands of ETH as Ethereum, the second-largest crypto, attempts to rebound amid rising derivatives market activity. Blockchain data tracker Lookonchain revealed that an anonymous investor dumped 410.14 BTC (worth around $34.16 million) on decentralized trading protocol Hyperliquid. In a subsequent move, the whale bought 14,341 ETH, which is worth around $36.14M, via decentralized exchanges (DEXs). The identity of the whale and the motive behind the moves remain unknown.