Long-Term Whale Dumps 300 BTC to Switch into Ethereum — Now Holds 135,265 ETH ($581M) with $58M Profit

COINOTAG News (Aug 23) — Per on‑chain monitoring by LookIntoChain, an institutional whale that amassed 10,606 BTC over seven years has realized cumulative profits of roughly $1.12 billion. The entity recently transferred 300 BTC (about $34.86 million) to sell on Hyperliquid, signaling a tactical reallocation from BTC into ETH within its portfolio.

On the Ethereum side, the holder maintains a long position of 135,265 ETH (approximately $581 million) with an average entry price near $4,295, yielding an unrealized gain of about $58 million. Separate spot accumulation of 122,226 ETH (≈$535 million) at an average price of $4,377 shows roughly $42 million in unrealized profit, underscoring a measured institutional rebalancing across spot and derivatives liquidity venues.