Whales rotate about $86.76 million from Bitcoin into staked Ethereum over five days
A whale sold about $86.76 million in Bitcoin on Hyperliquid over five days and staked the Ethereum it bought with the proceeds.
Read this event in español
Why it matters
Bitcoin.com News said spot ether ETFs shed $140 million in the week to Sept. 18 and concluded that whales, not funds, are leading ETH's rally. It described the staked position as a medium-term bet because the coins did not sit on an exchange ready to be dumped.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported value (days entity)
34,422 ETH
U.Today
18,780 ETH
Bitcoin.com News
U.Today reports 34,422 ETH, Bitcoin.com News reports 18,780 ETH (45% apart).
Key facts
A whale sold 1,107 BTC, worth about $86.76 million, on Hyperliquid over five days.
1,107 BTCReported by U.Today
The same entity bought 34,422 ETH, worth about $86.5 million, and staked the entire position.
34,422 ETHDisputed figureReported by U.Today
Trackers first flagged the cluster on Sept. 18 as 11 newly created wallets that had sold 602 BTC for 18,780 ETH over three days.
602 BTCDisputed figureReported by Bitcoin.com News
Ethereum traded above $2,700 for the first time since Jan. 31.
2,700 USDReported by Bitcoin.com News
Swing trader 0x4cee moved $32.17 million in USDC to Binance on Sept. 20 and pulled back 7,567 ETH.
32,170,000 USDReported by Bitcoin.com News
Spot ether ETFs shed $140 million in the week to Sept. 18.
140,000,000 USDReported by Bitcoin.com News
An ICO-era wallet bought 8,492.8 ETH for $23.73 million through four Cow Swap orders on Sept. 21 at about $2,794 per coin.
8,492.8 ETHReported by Bitcoin.com News
Hours later ETH touched $2,807, its first trade above $2,800 since Jan. 30, 2026.
2,807 USDReported by Bitcoin.com News
What happened
A Hyperliquid whale sold 1,107 BTC worth roughly $86.76 million over five days and used the proceeds to buy 34,422 ETH worth about $86.5 million, staking the entire position, per on-chain tracker Lookonchain as reported by U.Today and Bitcoin.com News. Bitcoin.com News said trackers first flagged the cluster on Sept. 18 as 11 newly created wallets that had sold 602 BTC for 18,780 ETH over three days, and that two ETH whales committed a combined $106.4 million over five days. The same outlet reported that swing trader 0x4cee moved $32.17 million in USDC to Binance on Sept. 20 and pulled back 7,567 ETH, and that spot ether ETFs shed $140 million in the week to Sept. 18. Bitcoin.com News also reported that ETH traded above $2,700 for the first time since Jan. 31. On Sept. 21, an ICO-era wallet bought 8,492.8 ETH for $23.73 million through four Cow Swap orders at about $2,794 per coin, after which ETH touched $2,807, its first trade above $2,800 since Jan. 30, 2026, according to Bitcoin.com News citing analyst ai_9684xtpa. U.Today put Bitcoin at about $81,500 on the day of its report.
How the story developed
- First report
First report by U.Today
Bitcoin (BTC) Whales Choose Ethereum (ETH) Now
- Update
U.Today reports Lookonchain data on the Hyperliquid whale's five-day rotation from Bitcoin into staked ETH
- Official statement
Official statement from Bitcoin.com News
Ethereum Price Clears $2,700 Behind Two Whales Pouring $106M Into ETH
- Update
Bitcoin.com News corroborates the rotation and adds the 0x4cee wallet and ether ETF outflows
- Update
Bitcoin.com News reports the ICO-era wallet purchase and ETH touching $2,807
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 21 Sept 2026, 08:00 UTC: U.Today — 1 independent source, 1 reports
- 21 Sept 2026, 10:00 UTC: Bitcoin.com News, official — 2 independent sources, 2 reports
Affected entities
Also mentioned: Aave, Tether USDt, Dai
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | Ethereum Price Clears $2,700 Behind Two Whales Pouring $106M Into ETH | Independent | |
| Bitcoin.com News Company, official | ICO Era Whale Buys ETH at $2,794 as Ethereum Price Now Sits At $2,720 | Independent | |
| U.Today Crypto media | Bitcoin (BTC) Whales Choose Ethereum (ETH) Now | Original |
Related events
Binance Lists HYPE With a Seed Tag as a Hyperliquid Strategies Wallet Buys $45.8M
Binance opened HYPE spot trading with a Seed Tag while a wallet linked to Hyperliquid Strategies bought $45.8M of the token in 16 hours.
Bitcoin falls below $84,000 in 20-minute drop as $550 million in longs liquidated
Bitcoin plunged roughly $2,000 in 20 minutes on October 7, triggering over $550 million in 24-hour liquidations, then dropped further below $81,000 on October 8 with liquidations exceeding $1 billion.
Two Hyperliquid whales close leveraged positions at loss then re-enter with new large bets on Tesla and Ethereum
A Hyperliquid whale closed a $98 million Bitcoin long at a $3.26 million loss and opened a $34.6 million Tesla long at 20x leverage, while a separate whale suffered $469,000 in forced ETH short liquidations before rebuilding a $16.2 million short position at 25x leverage.
Multiple Bitcoin whales rotate holdings into Ethereum while Strive accumulates BTC
Three large Bitcoin holders moved significant amounts between Oct 12-13, with two selling BTC for ETH on Hyperliquid and one dormant wallet reactivating, while Strive added 3,311 BTC to its treasury.
Papertrade perpetuals exchange launches on Hyperliquid HyperEVM and open interest drops 93.7% in first weekend
Papertrade launched on Hyperliquid's HyperEVM with 1000x leverage, then saw open interest fall from $11 billion to $693 million and TVL drop from $118 million to $70 million.
Hyperliquid whale loses 28,716 ETH in forced liquidation then reloads long position
A Hyperliquid whale lost 28,716 ETH worth $69.69 million in forced liquidation on October 9 and reopened a long position within 30 minutes; separately, another whale holds a $32.36 million BTC short.