On August 22, the Bitcoin-Kita wallet “sleeping” for seven years has activated. This was noticed by Lookonchain analysts.
A bitcoin og Who Receved 100.784 $ BTC($ 642M) 7 YEARS AGO Ended HIS Dormancy Recently – Selling $ BTC While Buying 62,914 $ Eth ($ 267M) Spot and Opening A Massive 135,265 $ Eth($ 577M) LONG POSITION.
We Just Spotted Another Bitcoin Og Depositing $ BTC Into #Hyperlique To Sell and Buy … pic.twitter.com/qhebn276LF
– Lookonchain (@lookonchain) August 22, 2025
The investor acquired 62 914 ETH (~ $ 270 million) in the spot market and opened a long position of 135,265 ETH (~ $ 580 million) on the futures. To do this, he got rid of a part of 100,784 BTC, which he received seven years ago from the HTX and BINANCE exchanges.
Experts suggested that this is part of a single strategy of one person or organization that controls several wallets. On August 21, they recorded a similar operation: “Sleeping” since 2018, Bitcoin-Kit sold 670 BTC (~ $ 76 million) and purchased 68 130 ETH (~ $ 295 million).
Later, a cryptoanalyst under the pseudonym MLM noted that the user has introduced another 1000 BTC (~ $ 113 million) to the decentralized Hyperlique Exchange. Instead of opening the next long position through futures, he bought the air “On the Spot”.
The total amount of funds associated with the same investor is estimated at 83,585 BTC (~ $ 9.45 billion). Funds are distributed into six addresses in Bitcoin and Ethereum networks.
Community reaction
Users regarded the actions of the whale as a positive signal for the broadcast. The crypto enthusiast under the nickname Nomad in response to the tweet Lookonchain wrote that it “looks like the end of the bull rally of the first cryptocurrency.”
Yeah, This Really Looks Like The End of A BTC Bull Market, Game Over.
– nomad (@nomadbip91) August 22, 2025
The investor under the pseudonym Crypto Joe expressed optimism regarding the prospects of Ethereum, noting a large number of purchases of the cryptoactive with whales.
A LOT of $ Eth Buys Coming in Latly.
Bullish.
– Crypto Joe (@cryptojoereal) August 22, 2025
The continued tributaries in the ETF on the basis of coins indicate a positive attitude around the second according to cryptocurrency capitalization. On August 21, $ 287.61 million was received in exchange funds.
Earlier, Ethereum was announced by ex-s-seo Bitmex Arthur Hayes. He predicted coin growth to $ 20,000 as part of the current cycle.
Over the past 30 days, the asset price has increased by 10.7%. On August 13, the rate tested $ 4700, approaching the historical maximum at $ 4878 (according to Coingecko).
At the time of writing, Ethereum is traded at $ 4315.
Recall that over the past month, Bitcoin by dynamics bypassed the air (+14% versus -5.4%). JPMorgan analysts identified four main reasons for Ethereum dominance.
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Source: Cryptocurrency
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