Ethereum is holding stronger than most of the digital assets in the market as both retail and institutional interest have been pouring into the leading altcoin.
By Wahid Pessarlay
Editor Julia Sakovich
Updated
2 mins read
Ethereum ETH $4 551 24h volatility: 4.1% Market cap: $548.85 B Vol. 24h: $48.68 B has been getting impressive attention from small and large investors as Bitcoin BTC $110 966 24h volatility: 3.4% Market cap: $2.21 T Vol. 24h: $50.47 B drops further each day.
According to data from Lookonchain, an old Bitcoin wallet that accumulated 100,784 BTC for $642 million over the past seven years has been aiming for Ethereum. The BTC holdings of this whale are now worth over $11.4 billion.
The Bitcoin OG who received 100,784 $BTC($642M then, now $11.4B) 7 years ago is frantically dumping $BTC for $ETH.
In the past 5 days, they've deposited ~22,769 $BTC($2.59B) to #Hyperliquid for sale, then bought 472,920 $ETH($2.22B) spot and opened a 135,265 $ETH($577M) long.… pic.twitter.com/uciVTlxR5W
— Lookonchain (@lookonchain) August 25, 2025
The address has already dumped 22,769 BTC, worth $2.59 billion, and received 472,920 ETH, worth $2.22 billion, in their spot wallet on Hyperliquid. In addition, the whale also opened a $577 million ETH long position.
The interest in ETH comes as the asset hit a new all-time high of $4,953 on Aug. 24 for the first time since November 2021. Ethereum soon faced a selloff and is now trading at $4,630.
Ethereum’s bullish momentum surprised the broader market, as Bitcoin has been constantly moving away from its ATH of $124,457. BTC is now hovering below the $112,000 mark.
Moreover, strong institutional demand for ETH has also been a major catalyst for its latest ATH price tag. While the US-based spot BTC exchange-traded funds have been seeing six days of consistent outflows, ETH-related products recorded roughly $625 million in net inflows on Aug. 21 and 22.
The decentralized finance sector has also been promising, with leading Ethereum-based protocols Lido and AAVE hitting new ATHs in terms of total value locked.
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Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.