Ancient Bitcoin whale readies to purchase additional $1.1B Ethereum, following accumulation of $2.5B worth
In the world of digital currencies, several significant events have taken place this week. Here's a rundown of some of the most interesting news:
Two sets of wallets have been observed making transactions on Hyperliquid's spot market, buying both spot Ethereum (ETH) and perpetual futures positions. The wallets, valued at over $4.1 billion in Bitcoin (BTC), are believed to be controlled by the same person or service, adding to the growing ETH scarcity.
One of the largest BTC whales, holding a reserve of about 5.5 billion US dollars, has been rotating into ETH. MicroStrategy, operated by Michael Saylor, is the wallet operator in question. This move, worth $1.1 billion in BTC, caused a $4,000 drop in the price of BTC in the past week.
Yzi Labs has increased its support for Ethena Labs and its digital dollars, and Franklin Templeton is among the first to mint USST from the new STBL project.
In the stablecoin market, the first XRP-backed stablecoin has launched on Flare, and the first spot XRP and Dogecoin ETFs have gone live in the United States.
Apple's latest iOS update, iOS 26, brings Liquid Glass, a feature designed to enhance screen protection. However, iPhone 17 buyers in China have reported issues with scratched backs and splash problems.
Coinbase is facing public criticism despite restoring an NBA champion's million-dollar account. Meanwhile, DBS has partnered with Franklin Templeton and Ripple to launch a tokenized fund.
A golden Trump statue holding Bitcoin has appeared outside the U.S. Capitol, reigniting allegations of insider trading as Intel's rally has boosted Trump's stake in the company by $4.9 billion.
The whale's next purchase will likely push the whale's holdings above the reserves of the Ethereum Foundation. The whale's funds initially originated from the HTX exchange, first funded five years ago. The whale's remaining balance on the largest wallet is over 14,495 BTC.
Lastly, it's worth noting that the whale's latest transfer originated from a reserve wallet holding another $1.6 billion in BTC. As these events unfold, the cryptocurrency market continues to evolve, offering both challenges and opportunities for investors.
