"Awakened" Bitcoin whale transferred 750 BTC to Binance
Date: 2025-08-28 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Amid the recent correction in the crypto market, large holders of bitcoin and Ethereum are demonstrating different strategies: some are recording profits, while others are actively accumulating assets. Lookonchain analysts noted that one of the "old" bitcoin whales, who received coins in 2013 at a price of $332 per BTC, transferred 750 BTC to Binance in the last few hours, which is equivalent to $83.3 million. In total, he has already sold 1,750 BTC, recording a profit of about $189 million, and there are still 3,250 BTC (~$360.75 million) left in his wallets.
Experts suggest that the investor may use some of these funds to purchase Ethereum. Similar activity has been observed before: another large Bitcoin holder, who had not been active for seven years, bought 62,914 ETH for $270 million on the spot market. Lookonchain also noted that some addresses may be associated with previous large transactions. For example, on August 21, 670 BTC were sold for $76 million to buy 68,130 ETH (~$295 million).
Ethereum whales are actively using the current correction to accumulate. For example, on August 26, an Ethereum whale that had not made transactions since 2021 withdrew 6,334 ETH (~$28 million) from the Kraken exchange, according to a CryptoGoos analyst. In recent days, the Ether rate has fallen by about 13%, from $4,900 to $4,300, which has become an incentive for large players to buy the cryptocurrency.
A larger operation was carried out by an unknown investor, who purchased Ethereum for $2.55 billion through Hyperliquid and locked the assets in staking. In addition, nine whale-linked addresses bought ETH for $456.8 million through the BitGo and OTC Galaxy Digital platforms, confirming the growing interest of large participants in Ethereum.
Demand for Ethereum is also increasing from the corporate sector. Thus, BitMine acquired the cryptocurrency for $2.2 billion last week, bringing its reserves to 1.7 million ETH (~$7.9 billion). At the same time, spot ETFs based on Ethereum have attracted more than $1 billion since August 21, compensating for previous outflows. Now, more than 9% of the total Ethereum supply is managed by exchange-traded funds and public companies.
Experts, including Standard Chartered head of research Jeffrey Kendrick, believe that Ethereum and the companies that work with it are undervalued, which is also driving institutional buying. The market is showing an active redistribution of capital between cryptocurrencies, with large investors using the correction to strategically increase positions.
Overall, the recent activity of the “old whales” shows that the crypto market remains attractive to long-term investors, and price corrections are perceived as an opportunity to accumulate valuable assets.
