According to Odaily Planet Daily, according to Lookonchain monitoring, a whale/institution that held 10,606 BTC for 7 years and made a profit of US$1.12 billion transferred another 300 BTC (about US$34.86 million) to Hyperliquid 1 hour ago and sold them in exchange for ETH.

It currently holds a long position of 135,265 ETH (approximately $581 million) with an average entry price of $4,295, resulting in a floating profit of $58 million. It also purchased 122,226 ETH (approximately $535 million) in spot trading at an average price of $4,377, resulting in a floating profit of $42 million.