An Ancient Whale Sells Bitcoin on Hyperliquid and Opens 23,000 Ethereum Long Positions

BlockBeats News, August 21 — According to monitoring by @mlmabc, a wallet that withdrew 15,000 BTC from an exchange seven years ago (then worth $95 million) has now started selling these BTC on Hyperliquid. Over the past eight hours, it has deposited approximately 550 BTC (worth $62 million) into Hyperliquid and is currently selling them.

This caused BTC on Hyperliquid to instantly drop by 200 basis points, resulting in a 30 basis point discount compared to prices on other exchanges. Subsequently, the individual used the funds from selling BTC to open a long position of 23,000 ETH (about $99 million).