What is happening?
In recent days, a major Bitcoin holder sold 24,000 BTC, equivalent to about $2.7 billion, and converted it to Ethereum. This shift included purchasing 472,920 ETH, along with opening a long position worth $577 million on the Hyperliquid platform. As a result of these movements, the markets experienced notable volatility, with Bitcoin's price dropping sharply while Ethereum's price reached record levels.
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📈 Why Ethereum?
Achieving record levels: The price of Ethereum reached an all-time high of $4,946 on August 24, 2025, driven by increased institutional interest.
Institutional shift: Ethereum has become the preferred choice for institutional investors, with billionaire investor Peter Thiel significantly investing in companies focused on Ethereum, such as BitMine Immersion Technologies.
Technical updates: Updates like "Pectra" enhance Ethereum's ability to handle larger transaction volumes, increasing its appeal.
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📉 Market effects
Price volatility: The sale of 24,000 BTC led to a sudden drop in Bitcoin's price, affecting overall market sentiment.
Shift in liquidity: The conversion of massive amounts of Bitcoin to Ethereum resulted in increased liquidity in the Ethereum market, contributing to its price rise.
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