Bitcoin Whale Dumps 4,000 BTC and Now Owns $3.8B in Ethereum

The BTC whale that began shifting large amounts of its Bitcoin assets and exchanging them for Ethereum this August continues this trend. As a result, the Bitcoin OG now owns $3.8 billion in Ethereum, which many view as a signal that the ETH price will continue to rise.

In the latest transaction, the BTC whale sold 4,000 Bitcoins worth $435 million and bought 96,859 ETH on August 31, all within just 12 hours.

Two Large Transactions Worth Over $540 Million: Signaling ETH Price Surge?

The long-term BTC owner sold 4,000 Bitcoins, worth approximately $435 million, and acquired 96,859 ETH using the proceeds. The blockchain analytics company Lookonchain tracked the activity of this crypto wallet and shared its on-chain data, confirming that the transaction was processed through a centralized exchange on August 31, 2025.

However, before dumping the 4,000 Bitcoins, the Lookonchain agency also noticed that the same wallet deposited 1,000 BTC the day before, thus preparing for this significant move. Consequently, the account first sold 1,000 Bitcoins worth roughly $109 million using the Hyperliquid decentralized platform.

After both transactions, this user purchased a total of 837,429 ETH, now valued at around $4 billion.

It’s worth noting that the Lookonchain agency first identified this Bitcoin OG on August 25, and it calculated that it had 100,784 BTC, worth more than $11.4 billion at current prices.

Is the Latest GENIUS Bill in the US Driving a Market Shift?

This is not the first time in the last few months that large investors holding BTC have decided to exchange it for Ethereum. The market has seen several other transactions confirming that BTC whales are buying hundreds of millions of ETH.

Many analysts share the opinion that the cryptocurrency market is maturing. As a result, major investors are closely monitoring the latest trends that suggest the Ethereum price may even reach $10,000.

One of the reasons why the cryptocurrency landscape is changing may be the latest GENIUS bill signed by US President Donald Trump. The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS) is “the first-ever Federal regulatory system for stablecoins, ensuring their stability and trust through strong reserve requirements.”

The act was signed into law this July and clearly supports stablecoins like Ethereum. Since then, ETH has continued to gain momentum. As a result, major cryptocurrency traders have already shifted their focus towards altcoins, confirming that they may be the next big thing.

ETH Price Continues to Grow

After a brief 7% drop in price, Ethereum maintains its momentum, and its value is steadily on the rise. On August 24, the price of Ethereum reached an all-time high of $4,946, and by August 31, it had slightly dropped to $4,491.

However, popular and reputable crypto analysts, such as Crypto Patel, predict that the price of Ethereum is rapidly heading toward $5,000. If this happens, it seems the record-breaking $10,000 milestone would be around the corner.

Is the Cryptocurrency Market Evolving and Maturing?

The latest events demonstrate that a significant shift is underway. The US GENIUS bill has had a considerable impact, as some large investors are diversifying and swapping their Bitcoin assets for other stablecoins, such as Ethereum. For example, BlackRock’s ETHA has recently purchased around $968 million worth of ETH.

However, this doesn’t mean that Bitcoin is in danger. On the contrary, the latest events demonstrate that the cryptocurrency landscape is moving in a positive direction, with BTC remaining the number one cryptocurrency.

Long-term crypto enthusiasts and serious investors recognize that all these changes signal that cryptocurrencies are no longer just for storing value. The market is growing stronger, with Ethereum emerging as another key asset, being the first significant step in this evolution.

If trends continue positively, we could see a surge in other stablecoins, such as Solana.