The tide may be turning in crypto’s biggest rivalry. For the first time in years, long-term BTC whales are unloading Bitcoin and rotating into ETH.
According to Arkham Intelligence, one entity bought $2.5B worth of ETH from Hyperliquid’s Hyperunit hot wallet and instantly sent it into staking. The move alone spiked Ethereum’s validator queue by more than 450K ETH, while nearly 906K ETH remain lined up for withdrawal.